By Fr. Fred Kammer, SJ
For a nation still mired in the aftermath of the Great Recession, the economic well-being of the country— measured in unemployment, underemployment, and poverty—is a primary election issue. President Obama’s efforts to drastically change course from the Bush economic debacle have been stymied by Congress and hardly helped by the meager efforts of the Federal Reserve. As “no new taxes” pledges blocked compromise on a major federal budget turnaround, Congress did agree on a Budget Control Act that will trigger across-the-board cuts— “sequestration”—in January 2013.
House Republicans adopted a 2012 fiscal plan championed by Budget Committee Chairman Paul Ryan, now Republican vice-presidential candidate. Presidential candidate Mitt Romney called the plan a “bold and exciting effort,” “very much needed,” “marvelous,” an “important step,” and indicated that he would have signed it into law if he were president. The plan represents a major redirection being urged on the American public and deserves close scrutiny.
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