Debt reduction by doing nothing

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Matt Yglesias believes it’s remarkable how little attention is paid to the fact that doing nothing solves the medium-term problem:

When we argue about the long-term deficit, we’re arguing about health care costs. But when we argue about the medium-term deficit, we’re primarily arguing about how to keep the deficit manageable consistent with extending a bunch of tax cuts. Politicians who are genuinely obsessed with the deficit as such should simply be saying, “I won’t vote for any tax cuts or spending increases that aren’t offset.”

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including,,, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.