Friday, October 16, 2009
It’s fashionable nowadays, particularly in the Oval Office and halls of Congress, to talk about healthcare reform legislation that is “deficit neutral.” The President has promised never to sign a bill that increases the budget deficit. The idea is that any legislation he approves will somehow be self-financing by virtue of the savings it makes possible and/or new tax revenues it generates. It’s an extraordinary promise from a President who, at least so far, his already increased our budget deficit, with reckless abandon, to levels that make the Bush Administration’s accomplishments seem thrifty by comparison.
The problem here is that the concept of “budget neutrality” is off point. Way off point. Continue…
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