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Politics : Formerly About Advanced Micro Devices
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To: Alighieri who wrote (613810)5/30/2011 12:35:58 PM
From: i-node3 Recommendations  Read Replies (1) of 1576694
 

You have to give them credit...they have managed to convince the country that the dems are responsible for the debt...yet from reagan to bush II the reps have managed to rack up the lion share of it with seductive lies about tax cuts...

You simply cannot grasp it. You just DO NOT understand the most basic elements of accounting or finance, and certainly not of fiscal policy or the budget.

The problem has nothing to do with Bush II. The problem is a direct result of two failed social programs: Medicare and Social Security -- both Democrat initiatives.

If you want to blame Bush for a few trillion, fine -- he DID provide the prescription drug program for seniors -- which has come in under budget every year until now, before Democrats unilaterally modified it to SUBSTANTIALLY INCREASE THE AMOUNT OF THE ENTITLEMENT.

If you're going to blame Bush for ALL of Medicare Part D, you MUST blame FDR and and LBJ for ALL of SS and Medicare, respectively, which totally blows your theory that Republicans are in any way responsible for our current predicament.

One other point that liberals so often are confused on is the Bush tax cuts which Obama just extended. Even if one assumes SOME of that would have been net revenue, it is certainly not reasonable to assume that ALL of it would have been, or even half. Because we cannot know how much worse the Clinton recession and the post-9/11 economy would have been for those years had the tax cuts NOT happened. It is safe, however, to recognize that the tax cuts materially improved the economy during this period, and as a result, generated more revenue that what would otherwise have been collect.

Tim posted this yesterday and perhaps it is simple enough for you.

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