Obama Stimulus: A Necessary Paradigm Shift
Editorial, The New York Times | January 12, 2009
President-elect Obama's stimulus package, now roughly $800 billion, includes "politically expedient" tax cuts which "are widely recognized as packing very little bang for the buck" - $150 billion in business tax breaks and the promised tax cut for all families making $200,000 or less. ++ With a projected deficit of $1.2 trillion, a job loss rate of 510,000 per month and the ever increasing costs of health care, perpetuating the idea that tax cuts are a viable economic solution is not feasible: tax increases must be nationally accepted.
