Tuesday, August 02, 2011

The Meaning of the Great 2011 Budget Deal

The House, Senate and the President found a solution to the question of raising the debt ceiling. The major points of settlement: The Republicans got no new taxes. The Democrats got no tinkering with Social Security. The President got the next big ceiling discussion put off until after the 2012 election. Everybody was happy (and unhappy, which is supposed to be a sign of a good compromise).

'A very symbolic vote,' I thought, 'very and properly defining of all the negotiators:  Each got what they are most interested in, what most concerns them most.' The Republicans made sure their "productive class" wasn't disincentivized by what they see as burdensome taxes. The Democrats protected their "equity" interests, the aged and the infirm. And Obama, the politician, got a breather from re-opening the debt-ceiling issue until after his run at re-election.

The producers, the allocators, and the political class...welcome to 2011 America.


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