In an unusually rambling piece (from which I am transmitting only the central paragraphs), George Will gets to the epistemological heart of the "fiscal cliff": “[S]pending is the main culprit” because: Today federal revenue is $2.67 trillion (slightly less than “the Clinton equivalent”) and spending is $3.76 trillion, so we are spending $987 billion more than we would be if we had just increased Bill Clinton’s last budget for inflation and population growth.
The Fiscal Cliff Agenda
The Fiscal Cliff Agenda
The Fiscal Cliff Agenda
In an unusually rambling piece (from which I am transmitting only the central paragraphs), George Will gets to the epistemological heart of the "fiscal cliff": “[S]pending is the main culprit” because: Today federal revenue is $2.67 trillion (slightly less than “the Clinton equivalent”) and spending is $3.76 trillion, so we are spending $987 billion more than we would be if we had just increased Bill Clinton’s last budget for inflation and population growth.