Thursday, January 20, 2011

The Deficit We Want

Via Economix:
Herein lies the political problem. We want to cut spending. We just don’t want to cut the benefits that the spending pays for.

We want to cut the vague notion of spending ahead of raising taxes, but when given the choice between cutting specific spending (on the "big three" - Medicare, Social Security, and Defense - for example) versus funding it with higher taxes, people choose higher taxes in each case.
Cognitive dissonance?

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