The supercommittee's recommendations will play a large role in the future of America's debt. Yesterday, the Washington Post released an article about Kerry's thoughts on the supercommittee. In response to claims that the Republicans are considering tax increases, Kerry stated, "'I would not characterize it as substantial yet, but it’s a change.'" Kerrys' comments remind us that when examining policy we must consider the practical implications not just the theory behind it. Yes, Republicans may be considering tax increases, but these increases may or may not actually lower our deficit: "Republicans offered a plan that for the first time would have included higher tax revenue but also would have extended the Bush-era tax cuts past 2012." The CBO analysis that we read for class today hinges upon the expiration of the Bush-era tax cuts, so once the supercommittee releases its recommendations, we must remember to look at the overall impact of the changes, not just ideological changes like some increased taxes or some loopholes closed.
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