Committee for a Responsible Federal Budget

Weekend Editorial Roundup

Oct 26, 2009 | Taxes

Here are the highlights from this weekend’s editorials on fiscal and budget policy:

  • The Wall Street Journal criticized Congress for attacking executive pay instead of enacting substantial reform. The pay caps, they say, could drive away top talent where it is needed most and they also mislead the public by implying that “bankers caused the entire crisis.”
  • The New York Times applauds Congress for regulating executive pay. The Times calls pay restrictions on institutions that still owe the government money a “good start” but says Congress should enact stricter regulations going forward.
  • The Washington Post answers a reader question about why it supports deficit financing for the Afghanistan war but insists that healthcare reform be deficit-neutral. The Post argues the U.S. treats defense spending differently because national security is a top priority, and wars eventually end while “entitlement programs must be funded in perpetuity.”
  • The Washington Post argues that Congress should reconsider eliminating the tax incentive for employer provided health insurance, which costs the government nearly $250 billion each year. Since both liberal and conservative economists agree this provision distorts the market, The Post claims it should be eliminated.

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