Monday, December 6, 2010

'Pelosi-nomics' requires willing suspension of reason

It's difficult to conceive of a liberal myth more out of touch with economic reality than House Speaker Nancy Pelosi's oft-repeated claim that tax cuts must be "paid for." Over and over this week, Pelosi has insisted that any extension of the Bush 2001 and 2003 tax cuts should be restricted to the "middle class." If the cuts are extended to couples making more than $250,000 -- the rich, in Pelosi's view -- then, she claims, Republicans are saying "we should not pay for it, we should add that $700 billion to the deficit"


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