Classic quote from a classic show, never more appropriate

[Little-Acorn]

http://media.townhall.com/Townhall/Car/b/sk091410dAPR20100914044613.jpg

[SassyLady]

Cute!!

[DragonStryk72]

Yeah, but the Bush Tax Cuts really didn't begin to make up for all the bush spending. Still, Obama needs to stop whining about it.

[bullypulpit]

http://media.townhall.com/Townhall/Car/b/sk091410dAPR20100914044613.jpg

<center><a href=http://www.cbpp.org/cms/index.cfm?fa=view&id=692>Tax Cuts: Myths and Realities </a></center>

<quote>"The August shortfall was 13% less than recorded a year ago, but is still likely to add fresh fuel to an election-year debate about spending and taxes that's roiling Washington.
The deficit is nearly $1.3 trillion in the first 11 months of the fiscal year, the Treasury report also showed Monday. That's $111 billion or 8% lower than the same period in fiscal 2009." - <a href=http://www.marketwatch.com/story/us-runs-91-billion-budget-deficit-in-august-2010-09-13>MarketWatch</a></quote>

http://www.cbpp.org/images/cms//12-16-09bud-rev6-28-10-f1.jpg

As can be clearly seen, Bush tax cuts do more to drive the deficit than the wars in Iraq and Afghanistan and the TARP bail-out combined. But don't let facts stand in the way of your mindless parroting of GOP talking points.

[Noir]

I'm not really running with those projections. Primaryily because government spending is *not* the economy. If the govement gives a tax break that means it collects 500 billion over 5 years (just to keep the numbers simple rather than whatever they are) then they should budget to spend 500 billion less over those 5 years. If they do not then they'll have to borrow the money against the market (ie increase the deficit) and, the best about it is, that 500 billion the gov does not collect and spend will be kept in the real economy, and not with spending Tzars in the government.

And, ironically, as tax cut takes effect in the real economy (producting growth) the level of debt caused by the tax cut will grow as more money will be excluded from the tax cut, making it seem even more generous and makes the deficit grow (if spending cuts where not made) and the same level as the growth in the real economy.

Tax cuts + public spending cuts = Fine
Tax cuts without public spending cuts = More deficit equal to the level of the tax cut, growing over time.
Tax cuts + public spending rises = maddness.*

While I must admit I don't know much about economics, that much seems obvious to me.

[Insein]

Tax cuts + public spending cuts = Fine
Tax cuts without public spending cuts = More deficit equal to the level of the tax cut, growing over time.
Tax cuts + public spending rises = maddness.*

While I must admit I don't know much about economics, that much seems obvious to me.

Thats actually a pretty good breakdown, Noir.