Wednesday, August 24, 2011

budget failure

Despite a  new CBO study calculating that the Budget Control Act will cut the projected debt increases in half, I think Stan Collender has a more likely analysis -- that the supercommittee will be another failure, or at least short-lived in its accomplishments.

 I agree but think there will be partial success with enough downsides that the experiment won't be repeated, as was the case with Gramm-Rudman-Hollings in the 1980s. [When the media shortened the label to Gramm-Rudman, I remember Sen. Hollings explaining/complaining that 'we had to start cutting somewhere."]

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