Maggie Mahar – What Does the Tax Cut Deal Mean for Medicare, Social Security and Health Care Reform?
When President Obama struck a deal with conservatives on tax cuts, his opponents set the stage for 2012. With this legislation, the conservative agenda of the Bush administration once again becomes national policy. The goal: to redistribute wealth upward–even if that means letting the deficit balloon.
Not long ago, conservatives on the Deficit Commission were warning that the deficit represents a “cancer” that will “destroy the country from within.”
Now, politicians on the right are arguing for tax cuts that will add $858 billion to the deficit over ten years—plus $383 in interest over the same span—bringing the total impact on the national debt to $1.24 trillion through 2020. And somehow, that is suddenly a brilliant idea?
Trust me, there is a method to Mitch McConnell’s madness: The larger the deficit, the more compelling the conservative case for shrinking entitlements such as Medicare, Medicaid, Social Security and Health Care reform in 2012.
Part 2 here.
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