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August 22, 2011
NABE: 'Spending Cuts, Not Tax Hikes, Best for Deficit'
Topics: Political News and commentariesFifty-six percent of economists surveyed by the National Association for Business Economics (NABE) believe that the federal deficit should be reduced only or primarily through spending cuts:
... 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and tax increases. The remaining 7 percent believe it should be done only or mostly through tax increases.Missing in the article is the 'why' and 'how' of reducing the deficit without raising taxes ... or at the very least ... reforming the tax code and a balanced budget amendment to keep Barack Obama from spending all of any increases in revenue.As for how to reduce the deficit, nearly 40 percent said the best way would be to contain Medicare and Medicaid costs. Nearly a quarter recommended overhauling the tax system and simplifying tax rates and exemptions. About 15 percent said the government should enact tough spending caps and cut discretionary spending.
Posted by Richard at August 22, 2011 10:48 AM
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- NABE: 'Spending Cuts, Not Tax Hikes, Best for Deficit' - Aug 22, 2011
