Death and Taxes

Jackie Calmes has written a nice piece on the deficit situation. She discussed this matter on Washington Week last Friday, and she knows her stuff.

The key here is simple, in general outlines: There is a deficit because the government is spending more money than it is bringing in. This can be resolved by increasing the amount of revenue, by decreasing the amount being spent, or by a combination of the two. Those are the only options. There is no magical "third way."

Republicans refuse to countenance any tax increases. That's fine, under two conditions:

1) The Republicans are prepared to present a program of spending cuts that will bring total expenditures down to current revenues, and,
2) They are able to persuade enough Democrats to support these cuts to provide a majority in both the House and the Senate.

Even if I believed that the Republicans in Congress were finally ready to do away with farm subsidies, business subsidies, energy subsidies, and a big chunk of military spending, I don't see how even the most optimistic Republican could believe that a majority of Congress can possibly support program cuts sufficient to balance the budget. For one thing, I think you could only accomplish that result if you cut Social Security, Medicare and Medicaid benefits, and probably cut benefits for veterans and both military and civilian retirees, as well.

So some taxes, somewhere along the line, will have to be raised. And that means that a lot of Republicans in Congress are going to have to go back to their constituents and tell them the truth. Tough job! It might even be politically fatal.