Wartime no time for tax cuts

I am sure that congressional Republicans and Democrats could trot out 50 economists that would say that the recent tax cut deal that sees the Bush tax cuts become the Obama tax cuts will stimulate the economy.

In addition the tax deal also reduces the payroll tax by 2 percent for 12 months.

Yes, reducing the payroll tax by 2 percent and cutting taxes will probably stimulate the economy in the short term, but at what cost? The national debt will soon exceed $14 trillion and the interest on that debt is $1.4 billion a day.

Does it make any sense to provide a short-term stimulus for the economy while adding to the national debt, which is now $13.9 trillion?

One thing that never seems to change in Washington is that hypocrisy reigns supreme. For example, the same politicians that have been issuing dire predictions and warnings that Social Security and Medicare/Medicaid will soon be bankrupt, then turn around and reduce the revenue coming in to finance Social Security and Medicare.

Maybe it makes sense in Washington, but to me it sounds like a fiscally irresponsible, nutty idea.

In our more than 200-year history, taxes have never been cut during a long-term war, but yet in less than 10 years taxes have twice been cut with the country engaged in two wars, once by Bush and now by Obama.

Not only should tax cuts not have been extended for the wealthy, they should not have been extended for anyone while the country is drowning in a sea of debt and is occupying Iraq and fighting in Afghanistan.

Victor Darst

West Dundee