By E.J. Dionne Jr. | The Washington Post
16 Nov 2011 | Here is a surefire way to cut $7.1 trillion from the deficit over the next decade. Do nothing.
That’s right. If Congress simply fails to act between now and Jan. 1, 2013, the tax cuts passed under President George W. Bush expire, $1.2 trillion in additional budget cuts go through under the terms of last summer’s debt-ceiling deal, and a variety of other tax cuts also go away.
Knowing this, are you still sure that a “failure” by the congressional supercommittee to reach a deal would be such a disaster?
Read it here.
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