There's a good article at Fortune on the crushing debt we're headed for, and they correctly note that the big problem isn't the stimulus or even the war, but entitlements. It's nice to have an administration that actually has a plan to reduce the deficits, rather than just proclaim deficits don't matter, but there are going to have to be severe structural changes in how entitlements work. And we're going to have to raise taxes.
As bad a job that I think President Bush did handling the economy, it's quite possible that 50 years from now historians will see that the main villains were Grover Norquist and the rest of the anti-tax fanatics. There has got to be a way to make tax increases more palatable to most of the country, but I can't think of it right now.
No comments:
Post a Comment