- The most pessimistic interpretation is that no long range reduction agreement will happen before 2012, we will have short terms cuts that are harmful, the election will be fought out by both sides saying they are not as bad as the other, and we will be closer to dealing with the real issues only through a debt driven crisis at some point in the future.
- The more optimistic interpretation is that if President Obama proposed anything out in the open that would kill it, he knows this, and that there are grown ups in both parties who are or will be negotiating in private and the deal pops out later, probably starting in the Senate. I hope the latter, more optimistic scenario is true.
Tuesday, February 15, 2011
I have written a lot lately about deficit reduction and I am tired so won't re-spill too much ink right now. This link from Ezra Klein is interesting. Andrew Sullivan has been writing with a mix of outrage and hope all day. I am not sure what will happen, and can talk myself into both the most pessimistic and optimistic scenarios.
Posted by Don Taylor at 10:27 PM