Quote of the Day, Budget Edition
“I’ve said this before, and I will say it again. Unless your proposal includes a substantial increase in taxes and a substantial amount of cuts to the military budget as well as ending the farm subsidies and giveaways to big oil and big energy and big business, you can kindly just shut up about the deficit and the debt. Additionally, any cuts to entitlements need to include cuts to the CURRENT recipients, not grandfathering the boomers and then wondering why the cuts never materialize in the future.
If you aren’t going to do those things, just shut up. You aren’t serious.”
– John Cole
Personally, I don’t think that any politician who voted to extend the Bush tax cuts has any credibility on the deficit whatsoever. I don’t think that any politician who takes federal subsidies for their business has any credibility on the deficit whatsoever. (I’m looking at you, in particular, Michelle Bachmann.) I don’t think any politician who has voted to extend the wars in Iraq and Afghanistan as “off-budget”, without voting for tax increases to pay for the additional expenditures, has any credibility of the deficit whatsoever.
I’m tired of politicians claiming that tax cuts in the form of deductions and credits aren’t really “spending” — while deriding the “$900 billion” surplus, of which over 1/3 was tax cuts.
Cut the defense budget. Cut business subsidies. De-cartelize the health care industry. Raise taxes. Means test entitlements. End the FICA income cap. This is how you balance the budget.
Everything else is just chasing after the wind.