July 23, 2014

Limited Deal Does Little to Ease Deficit Pressures, Analysts Say

January 2, 2013
The Boston Globe

Excerpt

“We have a deal, but not a grand bargain,” said Robert Bixby, executive director of the Concord Coalition, a nonpartisan organization dedicated to responsible fiscal policy started by the late Massachusetts and New Hampshire senators Paul Tsongas and Warren Rudman. “The best that can be said for it is that it smooths out a portion of the cliff. That will benefit the economy in the very near term, but aside from some relatively minor tax increases on the highest of income earners, the net result of the fiscal cliff deal is to preserve an unsustainable status quo.”

 

“Nothing was resolved here,” Bixby said. “If anything, they are digging themselves a bigger hole. They haven’t even come close to doing what they need to do and it doesn’t look like they will anytime soon.”