I rant a bit (alright a great deal) about the supposed notion of fiscal restraint and fiscal discipline in the U.S. today.
Sipping my coffee this morning and reading the paper about the proposed capital gains tax cut it struck me that this is a really big change with very unclear consequences.
The House passed the Gephardt rule and essentially says they will not take two votes on every fiscal matter. Not a fiscal panacea but some return to adult behavior.
The national debt is typically only a concern for the party out of power, if at all. In such a case it is a convenient foil to majority’s plan to increase spending or raise taxes.Continue reading National Debt Discussion
I enjoyed watching this hearing on the national debt and the economy from the House Financial Services Committee and decided it would be a good thing to post.