There Is No Painless Way to Balance the Budget

Source: The Dispatch
by Kevin D Williamson

“You cannot balance the budget just by cutting programs that you don’t like. You cannot balance the budget by booting layabouts off welfare, by reducing ‘waste, fraud, and abuse,’ by eliminating foreign aid, or by repealing the grievously misnamed Affordable Care Act. And, progressives, take note: You cannot balance the budget by reinstating Eisenhower-era tax rates, either. … what’s needed is a combination of spending cuts and tax increases that add up to about 5 percent of GDP — that, or we keep running relatively large deficits until there is a debt crisis that takes most of our fiscal options off the table.” (01/19/23)