Yet despite what should have been a major discrediting of the whole deficit-hawk establishment, the word is that Wall Street is pushing for Obama to appoint Erskine Bowles as Treasury Secretary.
Erskine Bowles? The man who, charged with producing a deficit-reduction plan, decided that a key feature of this plan should be … cuts in marginal tax rates on high incomes? The man who warned, in dire terms, of a looming fiscal crisis, with soaring US borrowing costs, within two years — almost two years ago?
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