When Fiscal Policy Meets Mathematical Reality
Republicans and Democrats today both make the same mistake: they insist on letting voters to believe that they can maintain a large welfare state without imposing the requisite level of taxes on the broader public. Yet this head-in-the-sand approach to fiscal policymaking obviously cannot go on forever.
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WASHINGTON, DC – The unprecedented political polarization in the United States has led many observers to lament the decline of bipartisanship. But bipartisanship is alive and well in one area: Republicans and Democrats agree that reining in the federal government’s massive budget deficits and record debt is not a high priority.