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Released: August 03, 2011
Debt ceiling deal ignores real driver of deficits: healthcare costs
Source: Michael Hiltzik, Los Angeles Times
Now that Congress is finished displaying its one unquestionable skill — conniving at ideological extortion, with the household budgets of millions of Americans hanging in the balance — the time has come to calculate the damage done to U.S. fiscal policy by the debt ceiling deal reached this week. The toll can be measured in several categories. One is the way the debate elevated deficit panic, an entirely fabricated issue in terms of today's policy necessities, to legitimacy. Another is how even within its own fantasy universe the agreement targets spending that isn't a significant problem in the federal budget, while ignoring the chief driver of deficit growth: healthcare costs.Read Full Article: Debt ceiling deal ignores real driver of deficits: healthcare costs
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