Deficit hysteria rises just prior to the hitting of the debt ceiling due on Dec. 8th, which will ratchet up debt phobia, too. What else is new in Moronville?
Behind closed doors on Capitol Hill, concerns were mounting, however, about Republican Senator Bob Corker’s push for a snap-back “trigger” amendment to the bill that would raise taxes automatically, possibly on corporations, if economic growth targets are not hit in the future, to offset a higher deficit.
Conservative Republican Senator Ted Cruz said at mid-afternoon that there were problems with the ”trigger“ proposal, and ”a significant number of members would have a serious problem“ if it only triggered tax hikes and not spending cuts.”...
Reuters
Deficit worries roil Senate debate on tax bill, leaders scramble for votesSusan Cornwell and Amanda Becker
See also
Sausage-making.
Zero Hedge
Senate Bill Nearly Killed By Deficit Hawks: Will Include $350 Billion In New Tax Hikes
Tyler Durden
See? The deficit may actually be useful after all - IF it prevents this crap from passing.
ReplyDeleteI would be surprised if anything could stop a tax cut for the rich from passing.
ReplyDeleteCorker may be angling for Al Simpson’s position at Peterson...
ReplyDeleteSimpson’s gotta be about ready to croak finally....