It is inevitable that there will be a budget crisis the day a Democrat becomes president. Republicans will rant about it. The Peterson Foundation will fund a massive PR campaign. And the mainstream media will report the "crisis" breathlessly, demanding action.
All the Democratic candidates should explain how they will handle this drumbeat for deficit reduction. Personally, I would not cut a penny of spending until the 2017 tax give-away is repealed in toto. Alternatively, taxes should be raised by an equal amount entirely on the rich.
Once taxes have been raised, sharply, we should slash the bloated defense budget, abolish energy and agriculture subsidies, and get rid of all the rest of the corporate welfare in the federal budget. Only when that is done can we even begin to discuss social welfare spending.
And no more deals where taxes are raised a tiny bit, defense is nicked & the bulk of spending cuts fall on domestic programs, Social Security, Medicare & Medicaid. Democrats must resist the mainstream media drumbeat to do SOMETHING--a deal is something, therefore it must be done.
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