Last Wednesday, months after rejecting his own presidential commission’s recommendations for reducing the U.S.’s record deficits produced by his administration, President Barack Obama finally offered a plan to deal with the nation’s excessive federal budget deficit. He didn’t do it because he wanted to do it or because he genuinely believes it’s in the…
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In a new article in the Wall Street Journal, Independent Institute Senior Fellow Richard Vedder and Journal Senior Economics Writer Stephen Moore explain why “Higher Taxes Won’t Reduce the Deficit: History shows that when Congress gets more revenue, the pols spend it”: The draft recommendations of the president’s commission on deficit eduction call for…
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