Wednesday, July 20, 2011

Washington swaps magic show for vaudeville

The Gang of Six, breathless reporters told us this week, has found a solution that tons of senators in both parties are willing to go along with. It will cut $3.7 trillion from the deficit over the next 10 years while lowering taxes. Wow! How did this group of Democratic and Republican senators do it? Well, for starters they’re going to save $500 billion just by changing the way inflation is calculated. And the rest will be put out to committee — you know, with six-month deadlines and specific targets and such.

Lower the deficit and cut taxes? Perfect. Except for the details: accounting sleight of hand generates half a trillion dollars, and the other three trillion? Figure that out later, of course.

The Gang of Six plan has now replaced the one proposed last week by Senate Republican leader Mitch McConnell to simply abdicate responsibility for the debt ceiling as the favored way for Republicans to get out of the corner they’d painted themselves into.

I considered that proposal unconstitutional: it would give the president the right to change the debt limit, a congressional constitutional duty, so the Congress could avoid having to vote on it. Why not just get rid of the debt limit? Why, that would take away the opportunity for congressional posturing and media performance.

We all know how important it is to keep cutting taxes, so that we have more of our own money to spend on the resulting higher costs for health care, education, personal security and all those other needs that most countries take care of by, well, paying taxes.

But, we couldn't do that ... that's, that's ... socialism, that's what that is.

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