Item for tax increase Democrats to dispute as they plan more damage to the private sector;
The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks
By Christina D. Romer and David H. Romer
http://emlab.berkeley.edu/users/dromer/papers/RomerandRomerAERJune2010.pdf
“Our baseline specification implies that an exogenous tax increase of 1% of GDP lowers real GDP by almost 3%”
[exogenous-means caused or produced externally(by Democrats and RINO’s)]
THIS WEEK (ABC): Panel
Cookie Roberts reminds me how media is trying to equate the
a. dissatisfaction of Republicans caving with
b. Democrats planned increase severity of economic woes
They are not equal and should be clarified