Sunday, July 10, 2011

The Economist on US Budget Negotiations

The Economist, a sober publication if ever there was one, minces no words about which side is to blame for the continuing budget/debt-ceiling crisis in the US:
the vast majority of Republicans, driven on by the wilder-eyed members of their party and the cacophony of conservative media, are clinging to the position that not a single cent of deficit reduction must come from a higher tax take. This is economically illiterate and disgracefully cynical.... [T]he closer you look, the more unprincipled the Republicans look.
Read the entire article here.

Hat tip: Mark Kleiman at The Reality-Based Community

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