“In any event, either potential occupant of the White House in 2013 would reshape the post-cliff budget within months. For Republicans, it is too heavy on tax revenue rather than cost cuts — though the Budget Control Act would lop $55 billion a year off both defense and non-defense spending. But the starting point would be closer to a sustainable path. The more cost-cut-weighted proposals of Obama’s 2010 fiscal commission — rejected by both the president and Romney’s running-mate Paul Ryan, a commission member — might even find new support.”
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