According to the WSJ, the President’s deficit-reduction panel has discovered — shockingly — that there are no easy answers when it comes to the deficit.Making their task especially daunting is the fact that they’re not really examining the entitlement programs, which swallow a gigantic portion of our annual spending.
So what are they going to recommend? The elimination or reduction of tax loopholes for things like buying healthcare with pre-tax dollars, mortgage-interest deductions, and child tax credits.
See the problem? Good luck if you’re a politician who votes for the removal of child tax credits or the mortgage-interest deduction.
The panel may also push for some kind of domestic spending freeze, and military cuts.
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