Bush Tax Cuts Responsible For Almost A Third Of Deficit In Last 10 Years

No. I mean the surplus that decreased the debt.

 

What do you call someone who intentionally and knowing continues to make false statements?




ftp://ftp.publicdebt.treas.gov/opd/opds122000.pdf

 

You've been deceived by RW propaganda once again. Who told you that? Rush? Sean? A RW computer programmer with no background in accounting or economics?




ftp://ftp.publicdebt.treas.gov/opd/opds122000.pdf

Where did you get the crazy idea that a surplus is measured by the debt? Rush? Sean? A RW computer programmer with no background in accounting or economics?

Where did you get the misinformed idea that there was a $133.29B deficit in 2001? Rush? Sean? A RW computer programmer with no background in accounting or economics?

 

US Treasury Department, Monthly Treasury Statement (MTS) for Sept 30, 2000, summarizing the budget, receipts, outlays, surplus or deficit for FY2000:

http://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/mts0900.pdf

Front page:


Page 2:


Page 3:


Page 5:


Summary:

"On budget" receipts: $1.544 trillion
"On budget" outlays": $1.457 trillion
On-budget surplus: $87.175 billion.

Total receipts: $ 2.025 trillion
Total outlays: $1.827 trillion
Total surplus: $237 billion

The Treasury numbers do not lie.

The only lie is the misinformation you got from the RW computer programmer with no background in accounting or economics that the Treasury numbers show a surplus.

 

Of course they do.

When the uber rich pay only 15% on the scores of millions of income they get from investment, while working people pay tax rates up to 35% PLUS Fica taxes on top of that, you are distributing income and wealth to the richest off the backs of working people.

 

I do not give a damn its Obama's fault! Math is a communist, muslim plot thought up by left wing nut jobs. The bible says nothing about math so it shouldn't be taught.

 

I think rational folks - those not perverted by deranged hyper-partisan denial, and/or wee wee'd up by their media entertainers - readily grasp the obvious fiscal reality.

There is no way you can indiscriminately slash revenue whilst going on obscenely-expensive nation-building sprees and maintain the surplus that you inherited.
Even if the militaristic gambits had not been the fiascos they clearly were, we'd still be handed the bill.

The dismal state of the country's coffers when the reign of Bush/Cheney mercifully ended was not a mysterious aberration; it was a confirmation of eminent economic common sense:

“Annual income twenty pounds, annual expenditure nineteen six, result happiness.
Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery.”

Mr Micawber​

The nation has now, finally, pulled out of the Bush/Cheney nosedive - not fast enough for some - but we can all take solace in its going in the right direction again: up.

... and, if there is anyone with acute attention deficit disorder in the matter of how deficits are attended by disorder, we are blessed with that current, highly-touted "experiment," airy-fairy TP dogma realized in the form of the vaunted Red State Model: Brownbackistan:

 

Are you seriously suggesting that it's moral to confiscate 50-70% of someones earnings? How about a simpler solution, CUT GOVERNMENT SPENDING!!!!!

 

Tax cuts can't create a deficit, only spending more than you have can.

In liberal world, when someone goes into debt, the reason can only be that that persons boss didn't pay them enough.

 

If we were spending the SAME as we were in 2008 when BHO took over, we'd have a surplus. No spending cuts necessary.

 

Where do you get what you have? Taxes. Duh.

 

Proportional to GDP, we are spending the SAME as we were in 2008.

If we were collecting taxes proportional to GDP the SAME as we did before the Bush tax cuts, we'd have a surplus. No spending cuts necessary.

 

Right Bubba, PRESIDENTIAL POLICY really doesn't matter. We saw how once Ronnie and Dubya left office ALL their policies ended. Tax rates jumped back to where they were when they entered office!



"Starving the beast" is a political strategy employed by American conservatives in order to limit government spending by cutting taxes in order to deprive the government of revenue in a deliberate effort to force the federal government to reduce spending.



Before his election as President, then-candidate Ronald Reagan foreshadowed the strategy during the 1980 US Presidential debates, saying "John Anderson tells us that first we've got to reduce spending before we can reduce taxes. Well, if you've got a kid that's extravagant, you can lecture him all you want to about his extravagance. Or you can cut his allowance and achieve the same end much quicker."

http://en.wikipedia.org/wiki/Starve_the_beast


Congress huh? BTW, GOP HAD CONGRESS WITH DUBYA FOR 6 YEARS!

 

We have. Spending in FY2014 was lower than FY2009, unprecedented in modern history. Spending fell from 24.4% of GDP to 20.1% of GDP.

Last year the Govt spent less proportional to GDP than it did every single year Reagan and Bush1 were in office.

 

It doesn't matter whether it's personal income or Gov't tax revenue. When you spend more than you have you create a deficit. If Gov't tax revenue was zero, and they spent 1$, we would have a spending problem. Nothing else.

 

Hannity, Beck and Limbaugh dropped out. Coincidence?




On Limbaugh:

Because of his parents' desire to see him attend college, he enrolled in Southeast Missouri State University but left the school after two semesters and one summer. According to his mother, "he flunked everything", and "he just didn't seem interested in anything except radio."

On Hannity:

Hannity dropped out of New York University and Adelphi University to pursue his broadcasting career.[5] During the late 1980s, Hannity was a general contractor[6] in Santa Barbara, California and also a bartender.

On Glenn Beck:

Glenn Beck is actually a college drop out. Now, I know we generally think that the people who make it onto TV are at least college graduates, even if it is just a Bachelors Degree. But, Glenn Beck dropped out of college after finish his first class.

There are alot of successful people who never went to college. No one ever said it was a prerequisite for a rich or meaningful life.

And if we're talking purely about success, Rush Limbaugh, Sean Hannity and Glenn Beck have achieved that. But is it a coincidence that the three standard bearers for the far right are educationally ignorant?


http://www.dailykos.com/story/2010/07/26/887733/-Hannity-Beck-and-Limbaugh-dropped-out-Coincidence

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The U.S. wars in Afghanistan and Iraq will cost taxpayers $4 trillion to $6 trillion, taking into account the medical care of wounded veterans and expensive repairs to a force depleted by more than a decade of fighting, according to a new study by a Harvard researcher.



https://www.nationalpriorities.org/campaigns/cost-war-iraq/?gclid=CjwKEAiAgfymBRCEhpTR8NXpx1USJAAV0dQylrnPFhcbQGrcuLlGA3-4qVig44Q6ZUDH9aUSEQayaRoCp9vw_wcB

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AND 40% OF STIMULUS WAS TAX CUTS? Weird THEY didn''t do much right???

 

Simpler solution? Oh right, talk to the GOP about that, THEY NEVER DID THAT(cut spending). The opposite in fact. Obamacares 100% funded. Medicare Part D not a single penny in new revenues yet is expected to cost the same from 2011-2020 as Obamacares....





All Property, indeed, except the Savage's temporary Cabin, his Bow, his Matchcoat, and other little Acquisitions, absolutely necessary for his Subsistence, seems to me to be the Creature of public Convention. Hence the Public has the Right of Regulating Descents, and all other Conveyances of Property, and even of limiting the Quantity and the Uses of it. All the Property that is necessary to a Man, for the Conservation of the Individual and the Propagation of the Species, is his natural Right, which none can justly deprive him of: But all Property superfluous to such purposes is the Property of the Publick, who, by their Laws, have created it, and who may therefore by other Laws dispose of it, whenever the Welfare of the Publick shall demand such Disposition. He that does not like civil Society on these Terms, let him retire and live among Savages. He can have no right to the benefits of Society, who will not pay his Club towards the Support of it. Ben Franklin

 

Tax cuts REDUCE revenues. Pretty simple in the REAL world. UNLESS spending is ALSO cut, yes tax cuts (especially for the "job creators") DO COST!!!!

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2008???? lol

January 08, 2009 (12 days before King Obama)
CBO Projects $1.2 Trillion Deficit for 2009

http://www.memphisdailynews.com/editorial/Article.aspx?id=40264

 

Well comrade perhaps you would be happier in a communist country where such nonsense takes place. Not gonna happen here. Nice try though.

 

USED to, BEFORE the GOP became soooo irresponsible fiscally with the budget

 

So if you have bills you have to pay, it would be pretty stupid to intentionally cut your income, wouldn't it?

Yet that is what our recent Republicans presidents did.

 

Who knew old Benjie was a commie?

 

LOL! You blame the GOP as if democrats do not exist. Stop telling lies already.

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Nah, it seems old dad is hallucinating.

 

I'll retract this statement for the record. If we collected taxes proportional to GDP the SAME as we did before the Bush tax cuts, we'd still have a (very small) defici in FY2014.

 

Typical conservative/GOPer NEVER taking responsibility for THEIR failed policy!