Senator Hatch has stated something along the lines of - entitlement spending is the real problem confronting US public finances at the moment. The real problems, Mr. Hatch, for US public finances, are multifarious and multifaceted and go beyond entitlements. Just ask somebody like Mr. Paul Krugman. Or other Republican senators.
Dangerous simplifications can lead to dangerously misleading and wrong solutions. Why not defense cuts, Mr. Hatch ? And why not do a dispassionate study of different taxes and the potential impacts of different tax rates on investment, growth, fiscal health etc, both in the short run and in the long run ? Identifying the real problems confronting the US economy requires going beyond mere soundbites. It is time for the US political system to rise up to the challenge.
by C. Jayant Praharaj ( send comments to cjpraharaj.blog@gmail.com )
The Global Analyst ( Commentary about economic, environmental, political and other topics )
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