Deficit Reduction in Our Time

As this article explains, by the end of today the House of Representatives will have passed bills designed to cut taxes by about $95 billion, a move that will mostly, though not exclusively, benefit the most affluent among us. Last month, the House of Representatives passed bills designed to cut $50 billion in spending on programs such as Medicaid, food stamps, and others that benefit the least affluent among us.

So let's do the math: Cut spending by $50 billion. Then cut revenue by $95 billion. That gives us a net savings of ... (scribble, scribble) ... minus $45 billion!!

Warning: These are trained professionals. Please do not try this at home.