You should never pass in my mind a tax law that automatically expires, just creates all these fiscal cliffs and puts all kinds of uncertainty in the economy. Why do they do that? The $22 trillion in projected deficits is probably a rosy scenario. I mean, it seems like the core problems are just so familiar. One is short term thinking, and the second is the misplaced belief that you can see what the future will be. (36:54–36:59)
CLAIM
Asserts that the $22 trillion projected deficit is an optimistic estimate.
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