From CNS:
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.”…
So little Timmy figures we’re not paying enough taxes – how sweet. Pity he “forgot” to pay his own taxes. But, then again, taxes are for little people…
More importantly, this just shows that no liberal Democrat is ever going to get serious about deficit reduction. The plain fact of the matter is that if we dialed back spending to 2004 levels – hardly a year of tight budgets – we’d be running a surplus, or so close to it as makes no matter (certainly no where near the trillion dollar + deficits of the Obama years). We don’t have a lack of revenue – we have an excess of spending. For anyone to say otherwise betrays a conviction that Big Government is not only here to stay, but must always get bigger. And if you’re a tool of the Ruling Class, like Geithner, you can never envision a world without all the special deals, kickbacks and bribes which make the Big Government and Crony Capitalism worlds go ’round.
We need to hold firm – no deals; not now, not ever. Let them stew – the problems of liberalism are coming to a head (liberalism’s chickens are coming home to roost, as it were) and we dare not give them an escape hatch. Let them come in to 2012 having to justify themselves – let them argue on the campaign trail that higher taxes are necessary. We make a deal for “revenue increases” here in 2011 and we’ll have given away the store.
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