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From the Gloom & Doom Dept – Deficit Outlook Darkens – WSJ.com

We cannot afford to “invest” in more feel-good programs. It’s time for significant spending reductions – taxation cannot fix the deficit. Attempted use of that single tool will result in an economic death spiral in America.

I agree taxation changes are needed and some of those should include very targeted increases. But our corporate tax rate must be reduced and the notion of ending the mortgage interest deduction killed immediately since a housing recovery is essential to the country’s fiscal well-being. The Republicans need to show proper concern for the people of this country and the Democrats need to stop buying votes while bankrupting the country. Obama’s “investment” SOTU speech reminded me of an unpopular rich kid trying to use daddy’s money to buy some friends.

Deficit Outlook Darkens – WSJ.com.

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