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Avoid cliff; go back to 2008 spending levels

1:10 AM, Dec. 20, 2012  |  Comments
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The fiscal cliff can easily be avoided. All we have to do is go back to 2008 spending levels.

According to White House figures, federal tax receipts will be $2.9 trillion next year. The same table shows that federal outlays in 2008 (the year the economic bubble burst ) were $3 trillion. The Feds have deficit-spent at an extraordinary pace since then to supposedly encourage economic demand. So ? let's just not spend all that extra money we've spent since 2008.

There's no need to bail out Wall Street banks or subsidize failed businesses anymore. They've been fattened up on trillions of taxpayer dollars real well by now - or they've gone bankrupt. All of those "shovel-ready" government stimulus projects that weren't so shovel-ready are pretty much done. There's no need to deficit-spend on them anymore.

Politicians tell us the economy will be fixed soon, so there's no need to quantitatively ease the economy anymore either. Finally, let's get out of a war or two that was started under false pretenses. That will save enormous amounts of money.

Fiscal cliff avoided, no deficit spending, budget balanced, and no political fighting. Just go back to spending at 2008 levels.

Scott Liddicoat

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