BUSINESS

Simon Johnson: Think Long-Term Fiscal Sustainability, Let Bush Tax Cuts Expire

09/08/2010 06:51 pm 18:51:00 | Updated May 25, 2011

According to the Congressional Budget Office, extending all the Bush tax cuts would add $2.3 trillion to the total 2018 debt. The single biggest step our government could take this year to address the structural deficit would be to let the tax cuts expire. Such a credible commitment to long-term fiscal sustainability should reduce interest rates today, helping to stimulate the economy.

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