A possible solution

Reflecting recently on this blog, I realized that many of my posts are critical, perhaps contributing to rancor rather than helping to soothe it. It occurred to me that, as someone who loves America, maybe I should spend more time offering solutions and less time bashing idiots - although I won't end that practice. While reading the news today, I came across an article on the national deficit that provided inspiration.

Now, Republicans will tell you you that the budget deficit is an immediate and pressing crisis, and that our current levels of spending are unsustainable. The first part of that is a lie and Republicans know it; otherwise they wouldn't be trying to extend tax cuts that will cost the country trillions over the next decade. However, Republicans are right about our spending; it is unsustainable, and over the course of the next decade, we have to trim it.

So what can we do? This month, the Bush tax cuts expire. These cuts, passed in 2001 and 2003 have given all Americans - but especially rich ones - a nice tax break, and Congress must now decide whether to extend them, or let them lapse.

Republicans, and some Democrats are calling for them to be extended, in some cases permanently. Many Democrats want to let the tax breaks for the wealthy expire and extend the rest. We face an economic recession and a huge budget deficit; what should we do?

Republicans correctly point out that raising taxes during a recession is a bad idea. Demand is already too low, and there is fear of deflation. Extending the tax cuts would put more money in the hands of Americans and allow us to spend. In the short term, the tax cuts should be extended. The economy is hungry and it need some money to munch on; give it to us, and we'll spend it.

However the deficit is a long-term problem, and the reality is that fixing it is going to require more revenue. Making the Bush tax cuts permanent is a bad idea as it will substantially hamper our ability to trim the deficit (this is how you know that Republican posturing is just that). As Mr. Orszag suggests in his article then, perhaps the best thing to do in the short run is extend all the tax cuts 2-3 years and get the economy back on track, then let the cuts expire and use the revenue to cut into the deficit.

I think this is a good plan. Fixing the economy is the paramount concern. A healthy economy will do more to diminish the deficit than proposed austerity, and extra revenue will help American families do their part to get the economy back on track - spend.

This is a compromise that Democrats and Republicans should be able to agree on; it incorporates the ideas of both parties, and more importantly, strengthens America. This plan would help bolster the economy in the short term, while still addressing the deficit in the long-run. If Democrats and Republicans truly care; they'll come up with a similar idea.