A French Plan to Solve America's Economic Problems

On Sunday, IMF Managing Director Christine Lagarde charged that recent U.S. budget cuts were "absolutely inappropriate" and should be replaced with "credible fiscal policies."  Ms. Lagarde did not specify exactly what those policies might be or how they would work, but she was certain that the sequestration cuts now in effect are going to damage the U.S. economy. The sequestration, she said, "blindly affects certain expenditures that are essential to support medium and long term growth."  Again, Lagarde did not indicate what those expenditures were.  Do they include funding for more IRS Star Trek videos?  Bonuses for IRS agents after their involvement in the release of donor lists and singling out of Tea Party non-profit applications?  Billions for "bikelanes to nowhere," funded by the Department of Transportation?  Eighty billion more in green energy loans?  Or just another $2 billion for Job Corps, AmeriCorps, Teach for America, and the like? ...(Read Full Article)