Today the federal debt reduction panel reports. "Bold proposals" are promised...They are sitting down to make their findings known as I write this.
Little will be enacted because of what I call (as of today) the Scarborough Doctrine.
On Morning Joe today I heard the now anxious-to-please-all host parrot the GOP line about no tax hikes in a slow economy and then he blurted out that its no time to be attacking the federal deficit through budget cuts.......Wow, Joe has become an amalgam of the ortodoxy from both sides of the aisle.
Joe is still aflutter over speculation he could be on a national ticket with his show's patron saint Mayor Michael Bloomberg.
We cannot continue to have the old paradigm of "tax cuts" and "stimulus"...If we want to spend at current levels, and keep providing "free sh--" to everyone...we will have to raise taxes dramatically.
There is no appetite for cuts.