Don't take the Deal!
David Brooks, Tyler, & Megan all implore the Republicans to "take the deal", meaning to accept some tax increases in exchange for "trillions in spending cuts" as conditions for raising the debt ceiling.
But, Angus, those are smart people, smarter than you, what is your problem?
Thanks for asking.
Let's ignore the fact that our economy is still in a big mess with high unemployment and underwater homeowners and just look at the terms of the deal.
The "cuts" are over a 10 year window. People, we have seen this movie before. Presidents are elected for 4 years, House members for 2 years. Current decisions are non-binding on future politicians. The cuts are a joke.
The tax increases, I'll wager, will NOT be coming over a 10 year window.
All current politicians can credibly do is cut NOW. So Republicans, please: cut or get off the pot.
It will never happen, but what we actually should do is (1) raise the debt ceiling with no strings attached. (2) Cut, not raise taxes, (3) pray that our credit holds out long enough for the economy to get healthy. (4) when either the economy gets healthy or our credit runs out, then cut spending down to size.