6.12.2009

A picture tells a thousand words



Public debt: the biggest bill in history.

THE worst global economic storm since the 1930s may be beginning to clear, but another cloud already looms on the financial horizon: massive public debt. Across the rich world governments are borrowing vast amounts as the recession reduces tax revenue and spending mounts—on bail-outs, unemployment benefits and stimulus plans.

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Democrats plan to repeal state and local tax (SALT) deduction limits

Democrats are talking about repealing the SALT limits. What nobody's talking about is that SALT is largely irrelevant to the middle clas...