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Fearing a soaring deficit, many analysts favor letting Bush tax cuts expire
Official and independent budget estimates show that letting tax rates spring back to pre-Bush levels for all taxpayers would bring the country within striking distance of meeting President Obama's goal of balancing the budget, excluding interest payments on the debt, by 2015. Full Story »
Posted by Jon Mitchell - via Washington Post , Slatest, Google News (Business), avivao (f), Fabrice Florin (f), Thanh Tran (f)



Social Impact of Journalism A. The article gave various insightful information from a number of sources who actually have credible say on the topic sic as; President Obama, Peter Orszag (Obama's recently departed budget director), Brian Reidl (Budget Expert), Robert Bixby (Executive Director of the nonprofit Concord Coalition, which advocated balanced budgets), Alan Greenspa, (Former Federal Reserve Chairman), Michael Ettlinger (Center for the American Progress Vice President), and co-author Michael Linden. It also had some inside information about a paper being released shortly by Center for the American Progress that made it easier to understand by giving statistics of predictions if tax cuts were extended or even preserved for household incomes less than $250,000 a year. B. Yes, I feel it had a lot of depth especially with the various information and sources the writer brought to the story. There was some parts of the story gave statistical information about former President Bush's tax cuts he imposed while at tenure which made me more confused then informed since it brought up things that were not really that relevant to the story. Yet, I loved the Alan Greenspan plug in commentary, "I am very much in favor of tax cuts, but not with borrowed money." I felt like that was a really good point with the borrowed money we have as a nation. C. I came out of reading the story with some questions but the point of the story still was pretty clear. I would of liked to know more about our current situation with our existing tax cuts since I'm not very familiar with it. I also checked out the photo gallery they had and read each of the captions. What i found confusing about the pictures was they had pictures from other countries about the unemployed, price hikes, unpaid wages, and etc… I know that the US Economy drastically effects other countries but the pictures and captions with this story just made it more confusing for me to understand the main point in the pictures since it seemed very broad and not very direct. D. I feel like the article will bring up a healthy debate on what should be done with the tax cuts imposed on bush. As the article stated if they let the tax cuts expire it would break President Obama's pledge to protect the middle class, which could stir up the middle class discussions quite heavily. E. There was not really any cultural or racial element to the story and I feel it was well written in a manner that can promote an understanding cross-culturally since the article described in detail the reasoning behind things with statistical information, as well as relatable comments by people who have credibility behind the subject manner.