It has become accepted economic wisdom, uttered with deadpan certainty by policy pundits and budget scolds on both sides of the aisle, that the only way to get control over America’s looming deficits is to “reform entitlements.”
Truthdig Editor-in-Chief Robert Scheer and the other “Left, Right & Center” panelists consider the fiscal cliff deal and the issues it left untouched: the debt ceiling and the threat of “reform” to social services. They also dissect the re-election of John Boehner as speaker of the House as well as the FTC’s decision on Google and antitrust and anti-competition laws.
Congress is still talking about a “Grand Bargain” that “balances” far more spending cuts than tax increases. That is another way of saying that you – the consumer of Medicare and Medicaid services, the recipient of Social Security, and the average taxpayer — will take the brunt of the spending cuts.
House Speaker John Boehner said Thursday that the “super committee” on debt reduction should not be considering any sort of tax increases as it attempts to slash the federal deficit by $1.2 trillion. (more)