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If anything, the next president might get some of his tax proposals through if he can wrap them into an economic stimulus proposal, said Maya MacGuineas, president of the Committee for a Federal Budget.
But MacGuineas said beyond that she believes all bets are off, if the next president tries to pay for new tax cuts by borrowing more money from foreigners rather than cutting spending or raising revenue. Even if lawmakers have the stomach to borrow more, buyers of U.S. debt may demand a higher interest rate.
"The political opportunity for borrowing will shut after the stimulus train leaves the station...
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