Saturday, May 21, 2011

The Progressive Budget — Dangerous to the Nation

Senate Majority Leader Harry Reid says the Democrats will not propose a budget for fiscal year 2012. Indeed, he says it would be "foolish" for Democrats to do so.

The Congressional Progressive Caucus, the Democrats' left wing, believes differently — and has proposed their answer to the budget proposed by Representative Paul Ryan. As Barron's notes

It claims to balance the budget in 10 years . . . . But it does so entirely with tax increases.
HUGE tax increases. (That does seem to be the usual Progressive answer to virtually everything.)

Barron's also says

We are always amazed by people who believe that spending cuts depress the economy while tax increases have no harmful effect.
I agree with them. That view strikes me as a sort of deliberate stupidity.

More on this issue later.

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