| Did you realize that the the balanced budget amendment to the Constitution that Senate Republicans recently endorsed," according to the NY Times, "would hold annual spending to 18 percent of the previous year's gross domestic product, a formula that works out to about 16.7 percent in the proposal's early years, according to the Center on Budget and Policy Priorities. That is a level last seen in 1956 -- a time before Medicare, before the interstate highways, when many baby boomers were not yet born, never mind aging into retirement?" or that "sharply lower spending would, in turn, allow for big tax cuts" that "would be virtually irreversible, since the amendment calls for a two-thirds vote of both houses to raise taxes." |
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At www.nytimes.com
At www.nytimes.com
