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July 16, 2011
Is the GOP about to cave on taxes?
Over the next 10 years, the federal government of the United States will spend more than $40 trillion. That ungraspable number is made even more incomprehensible when you realize that at least $7 trillion of that will be borrowed money, added to the already astronomical debt we carry of $15 trillion. Is there a lawmaker on Capitol Hill - liberal or conservative, Republican or Democrat - who doesn't think it's possible to cut a lousy, measly $4 trillion from that without raising taxes a cent? Of course not. The parties on the Hill are engaged in a game of make believe; they are pretending that every dollar of federal spending actually does something for somebody - even if its only to keep bureaucrats employed or cronies and contributors happy. Be that as it may, the Democrats are prepared to blow the economy up rather than face the music on entitlements. And the GOP is left with the choice to stand on principle or cave in and agree to tax increases: At a closed-door meeting Friday...(Read Full Post)