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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (59809)	2/20/2009 1:44:29 PM
From: TimF	2 Recommendations Respond to of 224749

Deregulation and tax reform probably worked in the other direction. Only the tax cuts would tend to increase the deficit, and even they would do so by much less then they where given credit for, since they helped increase the based of economic activity that is taxed. I'm not saying that tax cuts "pay for themselves" (they can, esp. over the long run, but its hardly an automatic thing, typically they don't, at least not before the tax law is changed again), but they partially pay for themselves. The real problem with Reagan and the deficits was his inability to control spending. A big part of that problem was the fact that entitlements are essentially on autopilot, they increase without congress having to vote for an increase. But even if it wasn't the spending, and we entertain the counterfactual that it really was "tax cuts, tax reform, and deregulation, also helped cause the biggest real increase in national debt of any President since the end of WW2" 1 - It would have been well worth it. 2 - Obama's starting off on a much faster pace in terms of increasing the national debt.

To: Kenneth E. Phillipps who wrote (59809)	2/20/2009 2:35:26 PM
From: jlallen	2 Recommendations Respond to of 224749

Nonsense....an irresponsible Congress is responsible for those matters....