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View Diary: Here's hoping the Super Committee fails (36 comments)

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  •  Cuts are inevitable without tax increases (0+ / 0-)

    Tax increases are really crucial. It will be impossible to sustain Medicare, Medicaid, and other domestic discretionary and entitlement programs in anything like their current form if the GOP succeeds in keeping federal taxes at no more than 18% of GDP. Right now taxes are well below 18% because of the recession. Continuing the Bush tax cuts, at least the full extent of them, would have a disastrous impact. Current baseline spending, not including temporary stimulus and recession-induced spending, significantly exceeds 18% of GDP. Cutting the military would help too, but tax increases are crucial and I don't think the Dems should agree to anything that doesn't include substantial tax increases. They should hold the line on that and should especially oppose any GOP proposal that freezes Bush capital gains tax and top bracket income tax cuts in place as part of the deal.

    •  Agree, but that's not the deal (1+ / 0-)
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      ozsea1

      If they don't come up with an agreement, the cuts get made to the military and discretionary spending.  That's the deal, and a huge amount of people are going to get hurt.

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