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Mr Khan said:
badgenome said:
sethnintendo said:

I'm just wondering what tax hikes you are talking about? 

The tax hikes the Democrats want as a part of the debt ceiling deal, of course. I'm not sure why you're confused about that. Brooks says Republicans are being foolish and fanatical not to take the Democrats' offer, but this is an old game. Until Democrats offer specific cuts, promising $3 or 4 trillion (or even $40 trillion) in theoretical cuts down the line means nothing.

I thought they had at least some specific cuts up there, one i recall being closing down a loophole for double coverage under Medicare's Prescription Drug program


From what I've seen, the vast majority of the 3/4 Trillion in "Cuts" are just dishonest accounting ...

Effectively, if you project economic growth at 5% per year with interest rates remaining at close to 0% and make "cuts" that project growth in government to 3% per year then you "cuts" over a 10 year period represent trillions in "savings". Unfortunately, these projections are unrealistically optimistic and even with these "Cuts" economic growth may be closer to 2% or 3% per year, interest rates will likely increase dramatically, and the growth in government will not be contained, which will result in a skyrocketing deficit and debt load.