The budget negotiations in Washington D.C. roll on, with the odds increasing that a package of January 1 tax hikes and spending cuts will kick in automatically. I’ve argued before that not only is not the worst outcome, it might well be the best possible one, given the results of the last election.
What is disturbing is what this whole process says about our political system—both parties seem ... More
By all accounts, the budget talks between President Obama and House Speaker Boehner have stalled, and one reason is a failure to come to some reasonable agreement on spending cuts. Richard Durbin, a left-wing senator from Illinois was told he had assurances from the White House that they would not agree to raising the Medicare age from 65 to 67. This intransience on the part of the Administration ... More