Fiscal compromise

I think what we are going to see will be a compromise on this fiscal cliff thing really soon that will include $x in tax reform in the form of tax expenditure removals, along with some serious, albeit slight, changes $3-10x) in how SS, Medicare, and Medicaid work, and some closings of some very old and very unnecessary military bases and the cancellation of some porky defense contracts. 
 
It will amount to a compromise that does in fact raise taxes some and cut expenditures some, as everyone knows what needs to happen; but the tax raises won't be called that, so as to pull the rug out from under the Grover Norquist tax pledges.  "We didn't raise tax rates, we reformed tax expenditures."
 
All of those moves have been neatly packaged within the bureaucracy by competent bureaucrats for a long time, just waiting for the right political moment, which is now that the "cliff" looms and the president is beholden to nobody.
 
Welcome to American political governance.  What a country!  You heard it here first.
 
                                             Publius


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