Thursday, December 20, 2012

Where are we on the Fiscal Cliff?

This graph from the Washington Post shows the several proposals so far. As you can see Obama has been moving on Social Security and Medicare/Medicaid cuts in the direction of Boehner.
Don't get me wrong, but even proposal #1 conceded too much.

PS: To be precise US$ 350 billion too much in the #1 offer (i.e. the entitlement cuts). You may give some discretionary cuts, and negotiate how much you increase the taxes on the rich, but you cannot after winning an election, that clearly meant that people want to preserve Social Security and Medicare/Medicaid, cut those very programs.

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