Das Krapital

Deficit Reduction For Dummies

Ezra Klein (bless his heart) just interviewed two guys from the Center for American Progress who (bless their hearts) have written a long PDF file (there is also a six-page "executive summary", for all those busy executives dying to hear the latest from the Center For American Progress) that professes to deliver real talk on how to cut the deficit to zero by 2015, a year the country is currently projected to spend $255 billion more than it can afford to. It is 98 degrees outside, and I have not yet managed to actually read past page seven of their (depressing) study, but I do know $255 billion is less than a third of what the richest .01% of American households rake in every year, and considering the vast amount of that wealth that is taxed at 15% or whatever we're letting them slide with on capital gains these days, I bet you wouldn't even have to extract a much bigger portion of those folks' "earnings" than you would have during the Reagan Administration to come up with $255 billion, in theory anyway…

Comments

  1. #1

    Commentary on CAP and the federal deficit is hardly why anyone reads WCP. Perhaps the author could analyze the DC budget, the upcoming "Grey" budget (based on his papers and proposals), and stuff related to DC?

    For example, the author seems to be a socialist or communist or something along those lines. DC has perhaps the most socialist public welfare system in the region, though its often dysfunctional of course. I'd think there'd be a lot to write about locally...

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