Russ Roberts succinctly describes the reason for the impasse: the Feds are spending over 30% more (in real dollars, 50% in nominal dollars) now than they were just a few years ago. We don’t need tax increases (which, in any case, are NOT THE SAME AS REVENUE INCREASES!!!), we need spending cuts. I hope Boehner holds out for everything.

-JD Cross

 

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