The simple issue is that we are spending 400 Billion MORE per year then we tax. Most of that money is spent on obligations that we as a country have made and those that say just cut spending and the problem is solved have not looked at just what the tax dollars are being spent on. |
The supply side (Voodoo economics per Bush 41) was shown to be a sham when Reagan claimed his tax cuts to the wealthy would stimulate the economic growth with business investment and balance the budget by 1985. He added $3 Trillion dollars to the National Debt in his 8 years in the White House. It took until 2000 to restore a balanced budget and the very next year Bush employed the same tax and spend policies as Reagan and he added $3 Trillion to the National debt in only 6 years. |
Ok which of these stupid quotes does col Gene support? Three trillion dollars in the hole that we will never dig ourselves out of from the Reagan administration, or the 400 billion dollars a year in the hole from the Bush administration? If the first is true then we are still paying on the mistakes of Mr. Reagan. If the second is true then we some how paid back the three Trillion dollar hole we evil conservatives created in the 80's but some how we won't be able to pay back the 400 billion a year we are amassing even though all reports state that we have cut the debt in half in less time than predicted. No matter which way you look at it, is seems that the tax cuts are working and the money is roling in faster than anticipated.
I wonder if col Gene will ever get one right?
col, you do know that a trillion is larger than a billion right?
Just remember that each time we raised taxes we ended up in a recession. President Carter raised taxes, President Bush raised taxes, and President Clinton raised taxes. No own will dispute that the Carter tax increases were a disaster. The Bush tax increases slowed down the economy that was moving along well. The Clinton tax increases killed the economy and gave us a recession that everyone in the economic world says the Bush tax cuts saved us from getting worse. Face it you just don't like the President and you will believe any lie told about him if it makes him look bad.
Stolen from the Rush Limbaugh radio show:
Here are the CBO's "projected" surpluses: In 2001: $281 billion. In 2002: $313 billion. In 2003: $359 billion. In 2004: $397 billion. This totals a $1.4 trillion "projected" surplus from 2001 through 2004. The Bush tax cuts that are to be phased in over this four-year period, will cost $74 billion in 2003, $38 billion in 2002, $91 billion in 2003, and $108 billion in 2004. It totals $311 billion. So how in the world can tax cuts equaling $300 billion wipe out a projected surplus of $1.4 trillion? Answer: It can't - and the Democrats know it.
In order to push this Big Lie, the Democrats are counting on the fact that you will not be able to understand simple math problems, or the nature of tax cuts. They are counting on the fact they will be able to lie, because they've been so successful at convincing you that Reagan's tax cuts in the 80s caused our massive debt, and that only Bill Clinton's courageous tax increase in 1993 saved us. They think because they succeeded at that they can lie to you again.
End theft:
This was written in 2001 since then we have had a few problems like 9/11 the war on terror, a few natural disasters, and it was Bush's falt for not counting them all in the budget or factering them into the tax cuts. The fun part is even with all of that we are still paying it off ahead of schedule and you wish to scream economic disaster! Would you prefer a nice health tax increase so we can go back to 21% inflation?