By Dean Baker / Beat the Press (CEPR) The New York Times editorial board came to a shocking realization this week: we are living on borrowed money. That was the headline of an editorial it ran calling for deficit reduction. Having discovered the deficit, the piece then went on to call for a combination of increased revenue […]
Both parties will have to compromise: Republicans must accept the necessity of collecting what the government is owed and of imposing taxes on the wealthy. Democrats must recognize that changes to Social Security and Medicare, the major drivers of expected federal spending growth, should be on the table. Anything less will prove fiscally unsustainable.
Reading the article, it seemed they were trying to get consensus between the democratic and republican party. I don’t like the idea of cutting these programs, they are vital to sustain our social safety net. But avoiding the cuts requires money.
Direct quote:
Reading the article, it seemed they were trying to get consensus between the democratic and republican party. I don’t like the idea of cutting these programs, they are vital to sustain our social safety net. But avoiding the cuts requires money.