So the fiscal cliff is looming closer and closer, and a new poll shows that “Americans clearly want Washington to solve its looming budget crisis, and they clearly reject almost every option to do that”. It sounds like typical voter stupidity at first, especially since a lot of the options on the table are not only palatable, but probably should be enacted for their own sake. The article lists: “raising taxes on everyone, cutting Medicaid or Medicare spending, raising the age for Medicare, or taking away tax deductions for charitable contributions or home mortgage interest,” and the last three all seem like no-brainers to me.
Before you start to feeling too smug, however, you can head over to the Wall Street Journal and try your hand at balancing the budget on your own. You start with the $1,102,000,000,000 10-year deficit and a menu of choices for raising taxes and cutting discretionary and entitlement spending.
Read moreWSJ Lets You Balance the Budget