October 04, 2003

Fiscal Doomsday in the Offing (washingtonpost.com)

That's not the horizon ahead.....
David Broder is a syndicated political columnist for the Washington Post, and, as far as pundits go, he's pretty tame. I think he's just to old & conservative to get too partisan in either direction. I tend to read him when I want to get the voice of reason's perspective.

And now, even Broder is saying that Bush's tax policy has engineered a time bomb in the American economy that's going to go off a decade from now. Quoting a consortium of three bi-partisan economic research groups, Broder states:

if current policies remain, balancing the budget by 2013 will require raising individual and corporate income taxes by 27 percent, cutting Social Security by 60 percent, cutting defense by 73 percent or cutting all programs -- except defense, homeland security, Social Security and Medicare -- by 40 percent.

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