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2011, they helped contribute $1.1 trillion to the debt. In total, since 2001, the CBO calculates that tax cuts have helped add $6.1 trillion to the debt. This is what Washington now calls a crisis: completely predictable arithmetic, compounded over a decade by a consistent refusal to acknowledge reality.
It didn't have to be. If we'd been more judicious in going to war, if we'd created Medicare part D with an eye towards cost containment and used it to renegotiate better prices accross the board for Medicare, we could keep all the cuts now. But we didn't. It's classic 'starve the beast', waste a surplus so that when the fit hits the shan, social programs have to loose funding and government services have to be privatized. I generally don't like to strike directly at one party or the other, but Republicans wasted a surplus and spent like drunken sailors and now they want Democrats to clean up their mess, which they know is politically unpopular. Everyone worships the guy who started the party; nobody thanks the shlub who cleans up the wreckage afterwards.
CL
2012 Aug 3, 9:03am
I guess we're okay then! Here I thought we were mired in stagnate wages, excessive household debt (to compensate for our low wages), and high unemployment with downward mobility.
Why didn't the money given to the top income bracket for the last several decades translate into wealth for the middle class and poor?
End all taxes. Anyone that wants me to pay any taxes is a SOCIALIST. How you like it Norquist.
Tax cuts add nothing to the debt unless there is a PRIOR SPENDING ISSUE.
Politicians who spend in excess of the budget should be held personally responsible for its repayment. Do you think those spend-thrift idiots would live within the budget with that type of restraint?
Why end it? 1% needs to hoard more money to keep the 99% their slaves. While I am at it, I am going to demand the companies that I invest in to make more profit by letting go more workers.
http://www.bloomberg.com/news/2012-08-02/fiscal-cliff-crisis-rooted-in-senate-ploy-to-pass-bush-tax-cuts.html
In 2011, they helped contribute $1.1 trillion to the debt. In total, since 2001, the CBO calculates that tax cuts have helped add $6.1 trillion to the debt. This is what Washington now calls a crisis: completely predictable arithmetic, compounded over a decade by a consistent refusal to acknowledge reality.
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