New tax agreement will add $900 billion to deficit

by Thomas C. Fox

View Author Profile

tfox@ncronline.org

Join the Conversation

Send your thoughts to Letters to the Editor. Learn more

December 7, 2010

There is a lot of talk today about the Obama and Republican leadership tax agreement with many observers saying this indicates how the president plans to govern in the next two years. We shall see. But this much we know already.

Take note of this paragraph from today's New York Times

The package would cost about $900 billion over the next two years, to be financed entirely by adding to the national debt, at a time when both parties are professing a desire to begin addressing long-term fiscal imbalances

.

Latest News

Mass is livestreamed on Facebook by Fr. Tom Kovatch at St. Charles Borromeo Catholic Church in Bloomington, Indiana, March 24, 2020, during the COVID-19 pandemic. (CNS/Katie Rutter)
Guest Voices
Opinion

Let there be streams of Mass

Katherine G. Schmidt
Elizabeth Johnson’s view of creation as a circle of kinship, rather than a hierarchy of being, means that yes, your dog or cat will go to heaven. She is pictured here with her cat Orion, named because "she is a constellation of beauty," Johnson says. (Courtesy of Elizabeth Johnson)
Faith
EarthBeat

Saving the Earth requires new images of God, says feminist theologian Elizabeth Johnson

Heidi Schlumpf
Francis, the comic strip: Brother Leo and Gabby discuss the risky trips taken by Francis.
Francis, the comic strip
Vatican

Francis, the comic strip

Pat Marrin
Briana, a 1-year-old migrant girl from Peru, is carried by her father, Jordan, as they search for an entry point into the United States past a razor wire-laden fence along the bank of the Rio Grande in El Paso, Texas, March 26. (OSV News/Reuters/Adrees Latif)
Guest Voices
Opinion

Vatican promotes human dignity, but falters on concrete realities

David E. DeCosse

Advertisement

1x per dayDaily Newsletters
1x per weekWeekly Newsletters
2x WeeklyBiweekly Newsletters