Yellen and other economists say tax cuts are blowing up the budget, not entitlements

Last year's aggressive tax cuts are at the heart of a worsening budget situation that will see deficits surge in the years ahead, according to an op-ed penned by former Fed Chair Janet Yellen and others. The essay, published in Sunday's Washington Post, rebuts a study from Stanford University's Hoover Institution that blamed entitlement spending for the nation's worsening financial picture.