Saturday, July 30, 2011

Debt Limit

I'm sure this will all work out in the end, but this Christian Science Monitor article provided some much needed insight I didn't see elsewhere--Brian Williams, are you listening? is becoming ever clearer that the two most important numbers in the debt-ceiling crisis are 1982 and 1990.
What happened in those two years? Presidents Ronald Reagan and George H.W. Bush both agreed to tax increases after Congress promised to make even greater cuts to spending. In both cases, the tax increases took effect, the spending cuts did not.

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