Dean Baker: The Biggest Myth in Obama-GOP Spending Showdown is the “Fiscal Cliff” Itself
Dean Baker
December 14, 2012
Real-World Economics Review
DemocracyNow.org – As negotiations continue between the White House and House Speaker John Boehner, leading economist Dean Baker joins to discuss the myths about the so-called fiscal cliff. With little more than two weeks before the deadline, President Obama insists on an immediate increase in the top two income-tax rates as a condition for further negotiations on changes to spending and entitlement programs. But Boehner said Washington’s “spending problem” is the biggest roadblock to reaching a deal, and has urged the White House to identify more spending cuts. “This idea that if we do not get a deal by the end of the year we will see the economy collapse and go into recession, that is totally dishonest,” says Baker, the co-director of the Center for Economic and Policy Research. “The basis for this is that we don’t have a deal all year — the fact that you do not have a deal December 31 does not mean that you do not get a deal by December 31, 2013.”
To watch the entire weekday independent news hour, read the transcript, download the podcast, search our vast archive, or to find more information about Democracy Now! and Amy Goodman, visit http://www.democracynow.org.
Democracy Now!, an independent global news hour that airs weekdays on 1,100+ TV and radio stations Monday through Friday.
FOLLOW DEMOCRACY NOW! ONLINE:
Facebook: http://www.facebook.com/democracynow
Twitter: @democracynow
Subscribe on YouTube: http://www.youtube.com/democracynow
Listen on SoundCloud: http://www.soundcloud.com/democracynow
Daily Email News Digest: http://www.democracynow.org/subscribe
Please consider supporting independent media by making a donation to Democracy Now! today, visit http://www.democracynow.org/donate/YT |
|
|
|
2012-12-14
by