A Call to Arms

If Clinton follows through on his plan to cut the deficit significantly, he must raise taxes $150 billion or so over the next four years. Here's how he hopes to do it.

The job is one "that no government in your country's history has ever done." The economic crisis "is every bit as profound as those we have faced in the past." In fact, "if we don't reform our economic policies . . . 10 years from now we won't even recognize the country." For openers, "we risk losing the standard of living that we have taken for granted for so many years." But Americans will make the sacrifices required -- most prominently, paying $150 billion or so in new or increased taxes over the next four years -- because they never fail...

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