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We are in a hole

So what does Geithner propose? Dig faster. From CNS News:

Geithner: We Need �Revenue Increases;' Cutting Deficit by Spending Cuts Alone 'Irresponsible'
Treasury Secretary Timothy Geithner said Tuesday that a deal to raise the legal debt limit, which he expects to be completed in the next few weeks, will be only a short-term �down payment� on solving the nation�s debt problem, and that it would be "irresponsible" to reduce the massive federal deficit anticipated over the next ten years with spending cuts alone.

What is needed, he said, is a longer-term deal on a �balanced framework� that includes �revenue increases through tax reform.� Geithner said negotiations with Congress over such a longer-term plan could be completed within the �next few months.�

In the vernacular, when the government changes the tax laws to extract more tax revenue from citizens it is called a tax increase.

We have seen already what that can do and where it leads us: And it's not like little Timmy doesn't have any tax issues of his own. Without sin and casting stones comes to mind... Posted by DaveH at June 22, 2011 5:46 PM