Brent Budowsky: The Senate becomes a farce: Democrats propose, Republicans filibuster. Democrats retreat, Congress recesses. Tiny victories are hailed as great achievements. The Democratic legacy is dumbed down by the day. The voice of a generation is silenced.
In remarks to a health reform forum in March, Barack Obama acknowledged, ‘The greatest threat to America’s fiscal health … is the skyrocketing cost of health care.’ How he deals with this danger will arguably be as important for the historical reputation of his presidency as his foreign policy initiatives to safeguard national security.
During a White House meeting in early 1984, Ronald Reagan shocked economic adviser Martin Feldman in insisting that no tax increase in US history had raised revenue. The eminent Harvard economist penned him a memo proving that every increase in tax rates from 1917 to 1969 had actually done so.