For the first time since President George W. Bush began the country’s long slide into debt by cutting taxes in 2001, an agreement was reached late Monday in the Senate to raise income taxes on the rich. That’s what makes the deal significant: assuming it is approved by the House, it begins to reverse the ruinous pattern of dealing with Washington’s fiscal problems only through spending cuts. Nonetheless, this deal is a weak brew that remains far too generous to the rich and fails to bring in enough revenue to deal with the nation’s deep need for public investments. MORE...
Wednesday, January 02, 2013
The Grey Lady Opines on the "wimpy last-minute resolution that solves little and leaves our federal financial state in peril."
New York Times (editorial):