Prolonging a Recession for Dummies: Tax Less, Spend More, Print More

Posted on December 14, 2010 at 11.16 am

Yep, the deal which has been worked out appears to really be the worst of both worlds for the national debt:  lower taxes without lower spending and higher spending without higher taxes.  The bill is a “$900 billion proposal to extend tax cuts and unemployment insurance.”  I certainly don’t want higher taxes, but uh…does anyone in DC realize that getting less and spending more will not make the debt smaller?

Meanwhile, the Fed keeps printing: