David Merkel submits: Because I don?t think in ?budget cut? terms the way D.C. does, I am not impressed with what is being discussed in D.C., and in most of the states where there is a shadow of budgetary furor. Also, because I don?t think about budgets in the ?cash? accounting terms that so many do, I am not impressed with what so-called radicals are proposing. We need to start thinking in full-fledged accrual ?net present value? terms with discount rates in the 4-5% range.
To me the Democrats and Republicans are Frick and Frack. There is little true difference in what they are proposing. I will remain unmoved until I begin to hear real proposals on Medicare and Medicaid, or lesser proposals that are shocking: ?We propose to end the departments of Interior, Agriculture, Commerce, Labor, HHS, HUD, Transportation, Energy, Education, Veterans Affairs, EPA, and Homeland Security. The other departments will be
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