The Cut, Cap and Balance distraction
As policy, Cut, Cap and Balance is an effort to take the lessons of the past 10 years and then pass a constitutional amendment preventing us from learning them. For instance: if you’re worried about deficits today, you’re partly worried about them because we passed about $2 trillion in unpaid-for tax cuts over the past decade or so, and then we had a financial crisis that jammed revenues further. CC&B’s answer? Editing the Constitution so it includes a brand-new, two-thirds supermajority in both houses of congress to raise taxes. It takes our problem and makes it worse. More specifically, it takes the United States Constitution and rewrites it to ape California’s budget process. I’m a Californian. The state’s got great weather, waves and food. But you don’t want their budget process. Trust me.
If you want to understand the debt debates, follow Ezra Klein.
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