David Corn: What If There Is No Fiscal Crisis?Quicklink submitted by Sheila Samples Permalink
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|Bruce Bartlett, who was an economics official in the administrations of Presidents Ronald Reagan and George H.W. Bush, says...President Barack Obama (or anyone else) need not rush into a big deal at this moment. There is no imminent fiscal crisis regarding entitlements. The Republicans are merely hyping the matter to bolster their attempts to extract a ransom for either (a) extending the Bush tax cuts for the bottom 98 percent, or (b) acceding to a hike in the debt ceiling, which will soon reach its latest limit, or both. The sky is not falling. It is not on fire. And the cliff may not be that frightening.|
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