These targeted tax expenditures add up, some would argue, to billions of dollars. Potentially, with that kind of fiscal impact, we could actually have significant tax reform and simplification if we were willing to do that.
Mr. Page, you mentioned that some types of cutting occurring today could have, I believe you said, increased “spending pressures into the future”.
Are you suggesting that some of the cuts today may actually be kicking the can down the road and may actually obligate future governments to spend more money, potentially putting us into future deficits?