Question of the Day

From Matthew Yglesias. His point is that the deficit can only be tackled with a combination of spending cuts and tax increases. But, as he points out – “Republicans simply refuse to acknowledge that revenue as a share of GDP needs to go higher than it was at the end of the Bush years.” He says that if Republicans won’t agree to any revenue increases, “that’s their prerogative, but willingness to compromise on revenue is the sine qua non of a bipartisan deal. Absent that willingness, there neither can nor will be a bipartisan deal.”

So on to the question. “When will the Republicans produce a budget proposal? We’ve seen the White House proposal. Do Republicans have an alternative proposal that makes the deficit lower consistent with their position on taxes? If they do, I’d like to see them write it down on paper so we can talk about it.”

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