A warning for Obama on deficits

Boston Globe

02/23/09

Just one week after President Obama signed a stimulus package designed to give a short-term boost to the economy, some of the nation’s top budget analysts plan to deliver a stark warning today at a White House summit that an even more foreboding long-term crisis will unfold unless Obama quickly fixes Social Security, healthcare, the tax code and more. While the $787 billion stimulus plan relies on tax cuts and increased spending, the list of problems to be addressed at the ‘Fiscal Responsibility Summit’ could result in a series of painful political decisions that might eventually include tax increases and cuts in government benefits. And although the stimulus package was passed almost entirely by Democrats, any significant changes on taxes and entitlements are considered unlikely without bipartisan support...

http://adjix.com/e74v


Informant: Thomas L. Knapp



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