The effects of Bush's tax cuts and of continuing them

[Bill McIntyre]

The Center on Budget and Policy Priorities demolished the mythology promoted by President Bush ("You cut taxes and the tax revenues increase"), Judd Gregg ("these tax cuts pay for themselves") and the usual suspects on the right. If the fact that the national debt tripled under Ronald Reagan and doubled again under George W. Bush wasn't proof enough, CBPP found that Bush tax cuts accounted for almost half of the mushrooming deficits during his tenure:



And as another recent CBPP analysis revealed, over the next 10 years, the Bush tax cuts if made permanent will contribute more to the U.S. budget deficit than the Obama stimulus, the TARP program, the wars in Afghanistan and Iraq, and revenue lost to the recession - combined.



As Ezra Klein and Matthew Yglesias suggested, Republicans ultimately don't care about the deficit. And as both Klein and Yglesias concluded last month, the CBO's latest forecast makes clear that the very worst thing Congress could do to trim the deficit is make the expiring Bush tax cuts permanent.

More detail.

http://www.cbpp.org/cms/?fa=view&id=692

[ocean_314]

Geez Bill its not 2007. Yup really the date is 2011 and in that time trillions have been spent by your favorite people the Democrats.

The baby boomers are just now impacting SSI and Medicare not in 2007. Now just in the last year SSI has started paying out more then its bringing in.

So Bill you might think that we all a bunch of dummies blindly believing anything that is put out in the media..but some of us are not Democrats.


And Bill Bush was faced with a huge economic problem when he first took office. First Clinton Dot Com bubble/scam bust putting us into a major downturn. Then 9/11 happened bringing this countries business to a stop. Bush's tax cuts where necessary to stimulate the economy, which they did up until Clinton's housing bubble burst.

The academic models have failed and always will fail, Keynesian economics is an academic darling but a abused stupidity in the real world. And now we all will pay.....

[Marcus]

Well...it looks like you hooked one, Bill. Don't let 'em get in the rocks or he might hole up on ya.

[jackpine savage]

Nice fish Marcus

[Marcus]

Originally Posted by jackpine savage

Nice fish Marcus

Tanx...personal best. I had to tilt my head in order to get it in the pic...only some much room to back up on a boat. No, my head isn't actually that heavy, just my D.
Since Bill posted a new pic of him in his grape smugglers, I had to put something up.