There is a lot of discussion in Washington these days on what to do about the federal deficit. Especially if, as both Democrats and Republicans have declared, cuts to Social Security and Medicare and possibly defense are off the table. For starters, they point out, taking things off the table – tax increases, say, or cuts to Social Security, Medicare, or the military – makes things exponentially more difficult. But that, of course, means that tax increases and changes to Social Security, Medicare and military spending would need to be part of budget discussions. ADVERTISEMENTMy point here is not to say that a balanced budget, or even significant steps to cut the deficit, is impossible.

Source: New York Times April 25, 2023 16:28 UTC