Paul Krugman has a great column in the New York Times about Republicans’ hypocritical stance on the deficit and budget: The New Voodoo. He says:
So if taxes don’t matter, does the incoming majority have a realistic plan to cut spending? Of course not. Republicans say that they want to cut $100 billion in spending, which is itself small change in a $3.6 trillion federal budget. But they also say that defense, Medicare and Social Security — all the big-ticket items — are off the table. So they’re talking about a 20 percent cut in what’s left, which includes things like running the judicial system and operating the Centers for Disease Control and Prevention; they have offered no specifics about where the cuts will fall.
We can only hope common sense wins the day. On a different note, have a safe and happy New Year’s celebration! Thanks for making the first two months of the blog such a success. We look forward to lots more discussion in 2011.