Procedure and Substance in the US Budget

Megan McArdle discusses budget negotiating strategies. She’s right.

Ezra Klein outlines why liberals don’t like it. He’s also right:

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Obama’s got 156 million people splitting $214 billion in tax cuts and benefits. The GOP’s got 4[.8] million people splitting $133 billion in tax cuts. On a per-person level, the GOP’s tax cuts are much larger. An individual billionaire is getting a far better deal than an individual unemployed American. And that’s galling. The problem is that to take the money from the billionaire means to also take the money from the unemployed individual. Actually, taking the money from the billionaire means taking the money from a lot of unemployed Americans.

Perhaps related: African Americans are more than twice as likely to experience downward mobility as whites.

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