Spring fever is in the air. Or hay fever. Some kind of fever has policy makers in Washington not thinking very clearly.

Though not specifically discussing the credit union tax exemption, President Barack Obama called for a reduction in “tax expenditures” so that there will be enough to lower tax rates and the deficit. By tax expenditure he means your credit unions’ tax-exempt status, among others. Yes, the government is now going after not-for-profits to prop up its ludicrous spending. The president framed it as $4 trillion in savings over 12 years.

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