I realize for the front page this should probably be a longer post, but this must be your must read of the day.Dan Mitchell from the CATO Institute has everything you need to know about the Debt Commission report.
If you read through their report, it sounds like there are lots of spending cuts. But they never explain that these supposed cuts are really just reductions in previously-planned increases. . . .[T]he Fiscal Commission is asking us to pay higher taxes so that government spending can grow at twice the rate of inflation. That’s not a good deal.
It’s not a long post and not wonky at all. You must go read the whole thing.