The height of irresponsibility
Stop Stealing From Our Kids
By STEVEN RATTNER, NYT
The sequester’s arrival on March 1 has set off a raging debate over not only whether those immediate forced budget cuts are the right fiscal medicine, but also whether we should be trying to accomplish longer-term deficit reduction while the economy remains weak.
Of course we should.
Our budget outlook is so grim and the policy changes that are required will be so painful — politically as well as financially — that putting efforts to get our fiscal house in order on hold would be the height of irresponsibility.
Proponents of taking a pause offer a variety of arguments in support of their view: Congress can’t do two things at once, and the need to fight the sequester should take precedence. The budget outlook for the next 10 years isn’t so bad. The bond market is quiescent, even in the face of continuing large government borrowings.
(More here.)
The sequester’s arrival on March 1 has set off a raging debate over not only whether those immediate forced budget cuts are the right fiscal medicine, but also whether we should be trying to accomplish longer-term deficit reduction while the economy remains weak.
Of course we should.
Our budget outlook is so grim and the policy changes that are required will be so painful — politically as well as financially — that putting efforts to get our fiscal house in order on hold would be the height of irresponsibility.
Proponents of taking a pause offer a variety of arguments in support of their view: Congress can’t do two things at once, and the need to fight the sequester should take precedence. The budget outlook for the next 10 years isn’t so bad. The bond market is quiescent, even in the face of continuing large government borrowings.
(More here.)
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