Tuesday, November 2, 2010

Will the Election Guarantee Continued Deficits?

Insightful sentences from the Economist:
The President has struggled to get his agenda through a Senate with 59
votes on his side; the difference betwen 51, 50 and 49 votes might be
marginal. The deficit may be locked on autopilot as neither tax rises
nor spending cuts could gain a majority.
Gridlock = no tax increase + no spending cuts = high deficits until 2012.