Andy Barr actually said...

relying on taxes alone to hold long-term deficits at 3 percent of GDP would require phasing in a 60 percent tax increase on median-income families.

Barr references a report indicating drastic tax increases needed for deficit control.

03/24/2014

More Andy Barr Quotes

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Thank you for your leadership on this task force over the last year. This has been an important exercise in determining how we can better di...

But that is really what is happening according to a lot of the market participants.