Economy

Back Into the Ditch

I hate to disagree with my colleague Mr. Ashby, but $600 billion in revenue increases in the deficit negotiations aren't nearly enough. Double that number and we might be closer to fair.

In fact, Ezra Klein reports the number is actually more like $400 billion -- just 17 percent of the $2.4 trillion deficit reduction deal over ten years.

So we're in a slow growth recovery with 9.1 percent unemployment, and the White House sounds like it's about to give the Republicans $1 trillion in spending cuts -- more than double the tax increases -- when we should be spending more. A lot more.

That said, I have no blessed idea what exactly the White House can do at this point. Certainly making a major speech could help, but I doubt it will move enough (if any) House Republicans closer to voting for more tax hikes for the super rich.