>> Obama deficits (partly) due to Bush tax cuts... don't be stupid:
This, of course, is incorrect.
Federal income tax revenue increased as a result of the Bush tax cuts. And even in '08 (Bush's last year) it didn't drop back as far as 06 levels, let alone 02-03. The Bush tax cuts in 01 did little good, but there was 9/11 which any thinking person expected would tank the economy. It didn't. But the 03' cuts were highly effective at getting the economy moving after 9/11 as evidenced by the increase in federal income tax revenue:
You got anything else?
>> Now don't be a dumb-ass, governments are supposed to run deficits during recessions and surpluses during booms..
Nonsense. That is Keynsianism, which we know has never succeeded in the history of its existence in helping an economy. When deployed during the Depression it managed to drag it out for more than a decade. Henry Morganthau, FDR's own economic architect, made it clear:
"We have tried spending money. We are spending more than we have ever spent before and it does not work." He went on, "After eight years of this administration we have just as much unemployment as when we started...and an enormous debt to boot." And, as we know, when the spending was cut back, it triggered a recession.
Most recently, we blew a trillion dollars in early 2009, and got nothing for it. Unemployment is still not at normal levels and that's six years later. Worse, the Labor Force Participation Rate stands at a 35 year low, and economic growth is, at best, anemic, and could well be headed back to negative territory.
Spending money has never worked, anywhere, and serves only to increase the debt burden on future generations.
Dickweed. |
