Wednesday, July 6, 2011

Wonder why cutting the deficit is so hard?

David Leonhardt has a piece (see here) in the New York Times detailing yet another reason why it is so difficult to actually reduce the deficit (as opposed to all of the political rhetoric about doing it).  He looks at the Business Roundtable (a very influential lobby) and says:

Rhetoric aside, it consistently lobbies for a higher deficit. The roundtable defends corporate tax loopholes and even argues for new ones. It pushes for a lower corporate tax rate. It favors the permanent extension of the Bush tax cuts. It opposes a reduction in the tax subsidy for health insurance, a reduction that was part of the 2009 health reform bill. Oh, and the roundtable also favors new spending on roads, bridges and other infrastructure.

 What's that old saw about the weather?

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