Saturday, April 10, 2010

To fix deficit, Congress needs the will to cut

commission is supposed to examine policies to meaningfully improve the long-term fiscal outlook. It is analyzed that if the commission will make credible recommendations for these goals, it will have to establish deficit reduction as the primary goal; namely initiate substantial spending cuts or tax increases.

In the rest of this article, the author analyses this issue from both sides; he points that if the political polices are just for solving a short-run economic problems brought by the health care reform, these polices will never reach the goal. However, these policies would be insisted and carried out in a moderate level, it would bring benefits in the future. And he points out a feasible way to carry these policies is to have the commission and the public recognize that deficit reduction has itself become a “moral imperative.”

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