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Politics : Ask Michael Burke
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To: Nadine Carroll who wrote (127029)4/15/2011 10:56:41 AM
From: Freedom Fighter  Read Replies (2) of 132070
 
The idea that the Bush tax cuts are the primary cause of these very large deficits is preposterous. When they were passed, government revenues did NOT decline over a trillion dollars.

It's obvious that the large recent deficit are the result of several things.

1. The cyclical decline in the economy is causing lower revenues and higher expenditures (the flip side of the boom when business activity and tax revenue is peaking, employment and payroll taxes are peaking, cap gains taxes are higher, government safety net payments are lower etc..)

2. High military spending related to our current imperialistic activities in the Middle East

3. The demographics that were working in our favor during the Clinton years are now beginning to work against us for SS and Medicare revenue and spending

4. Interest on the growing pile of debt

5. Tax policy
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