During the election season, tea party activists declared deficit-reduction one of their primary goals. The nation is swimming in red ink, they noted, posing a huge burden for generations to come. So I’m waiting for those tea party activists to mount a huge protest over the tax deal between President Obama and Republicans. It is expected to cost $858 billion over ten years.
Where’s that tea party protest? Are they headed to Washington to denounce the deal, as they did repeatedly with the health care plan — which will lower the deficit over ten years?
Yes, there are other things in the deal besides tax cuts for the wealthiest Americans. But extending the tax cuts for all Americans for two years cost $675.2 billion. Extending them for the richest Americans — along with generous cuts to the estate tax — will cost about $50 billion over two years. Are the tea partiers at all concerned about that?
Then were the ethanol subsidies, which most reasonable people agree are a spectacular waste of government resources — a giveaway to corn farmers. But farm state legislators wanted ethanol subsides included in the package, and they are there.
Any day now, I’m sure, tea partiers will gather on the Mall to protest this big addition to the national deficit. Any of you have your bags packed for the party?