Is Deficit Panel Already Doomed?

Oct. 28 (Bloomberg) -- The U.S. budget deficit is worsethan ever. Taxes already have been raised, so efforts to narrowthe shortfall should focus only on spending. The only fair dealis a straight trade: relief from the cuts under sequestration inreturn for reductions to entitlements. Yet there’s no incentivefor Democrats to go along.

All of these statements are accepted by the public andimportant politicians. All are false.