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Economic Sanity for 2012



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From my most recent NRO article, on the economic issues that should be front and center in the campaign: “The administration’s predictions of deficit reductions are moonshine, from the same school of imaginative arithmetic that gave us the $900 billion cost of Obamacare, already acknowledged to be a very large underestimation, and the extent of the deliberate (unless the president and his entourage are insane) underestimation will certainly grow. Built into the Treasury’s roseate projections of an inexorable, slow march to budgetary balance are wildly optimistic notions of tax-revenue increases in defiance of historic patterns when taxes are raised, and of spending reductions, including swingeing cuts in defense costs that Secretary of Defense Leon Panetta reassures us (for which most are grateful) will not happen.”

Whether you agree or disagree, your comments are, as always, most welcome.



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