IMF Says U.S. Must Reduce Government Benefits By A Third And Raise Taxes By A Third

On PBS New Hour last night David Brooks, New York Times columnist, blasted the “fiscal cliff” deal for doing “nothing to address our long term debt and nothing to reform entitlements.” The White House and the Congress “failed on every single front,leaving us worse off.”

The solution, Brooks emphasized, is to adopt the IMF proposal to cut benefits by a third and raise taxes by a third… If we don’t (take on) Medicare, we will have to choose between “the rich elderly or the poor young.”

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