Don’t take the deal

David Brooks, Megan McArdle, and Tyler Cowen all say to the GOP, “Take the deal.”

“The deal,” of course, is the deal on raising the debt ceiling that Democrats have offered Republicans. It includes a purported cut of trillions in exchange for hundreds of millions in “revenue increases.”

As the Cato Institute highlights, these “cuts” aren’t much of anything at all:

Dr. Kevin Grier opines:

Let’s ignore the fact that our economy is still in a big mess with high unemployment and underwater homeowners and just look at the terms of the deal.

The “cuts” are over a 10 year window. People, we have seen this movie before. Presidents are elected for 4 years, House members for 2 years. Current decisions are non-binding on future politicians. The cuts are a joke.

The tax increases, I’ll wager, will NOT be coming over a 10 year window.

In other words, nothing has changed; no one is actually getting serious about fixing the problem. I say: No deal.


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