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Originally posted by Spanky
It does not beat cut and spend.
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"cut and spend" is exactly what Bush and the Repub congress have been doing. Cut taxes, spend more money. Borrow to make up the difference.
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Spending less than if the Dems were in power.
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Name the Dem congress or administration that has caused deficits this big.
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Yes and they were looming in 1994. But it was the growth that pulled us out. Every year the budget kept getting readjusted because of the added revenue because of growth. This year the deficit was adjusted by 28% because of projected growth. If we continue growing we will pull right out of these deficits. You keep the economy growing and this years deficits will seem like chump change in ten years. Just like the deficits of the early 1990 seem like chump change now. They key is growth, growth, growth.
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Oh, okay. So all we need is ten years of uninterrupted growth and we can start dealing with the Bush debt. Great news!
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There hasn't been as many cuts as I would like but the economy is growing.
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I'm sorry -- I thought we were in a deficit-causing recession. Which is it?
Or do we need to be 10 years into an expansion before we see fiscal sanity?
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Yes but the biggest factor determining how much we bring in is how much the economy is growing. Not tax cuts, tax raises, or spending increases but economic growth. Economic growth has had more to do with the deficits in the past twelve years than anything else.
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Under Reagan, there was economic growth, but massive deficits.
Under Clinton, there was economic growth, and a surplus.
Under Bush II, there is (supposedly) economic growth, and massive deficits.
Yeah, I'm sure tax cuts to the wealthy have nothing to do with deficits.
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Do you know of a better way to get out of a recession.
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There are tax cuts that spur growth, and tax cuts that are simply benefitting the wealthy without any growth impact. As an example of the latter, the estate tax cuts.
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Sorry. Congresses spending restraints balanced the budget. Remember - Clinton fought the Repub spending cuts every step of the way. You guys keep forgetting that. All Clinton did after the Repubs took over was prolong the time until we reached balanced budgets.
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Right. Because increasing gov't revenue thru tax raises had absolutely nothing to do with cutting the deficits. And you are ignoring the '93 deficit reduction.
Since 1980, we have learned:
Repub President, Dem Congress = massive deficit.
Dem President, Repub Congress = surplus.
Repub President, Repub Congress = massive deficit.
