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#21 | |
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MVP
Join Date: May 2005
Location: washington, D.C.
Posts: 11,460
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Re: President Donald Trump?
Quote:
The left, as you say, is keenly aware of the current debt and deficit crisis. No one's running from it or ignoring it. There are politics being played on both sides, but you can't simply cut your way out of a deficit and back to prosperity. If lowering taxes was the solution, well, didn't the last Commander in Chief pass, not one but two tax breaks for the wealthy, yet unemployment still rose and we added another trillion and a half to the deficit in the process. That along with the Medicare Drug Benefit, which wasn't paid for either, cost America roughly another trillion that we're still grappling with today. The economics are a little more complicated that that, but that's when the deficit train started to pick up speed. So the real question isn't only what to cut, but how do we address the revenue side of the equation. Republicans feel, perhaps rightly so, that creating jobs add to the revenue pool and thus having an impact on the deficit. Okay, I can live with that. Democrats, on the other hand, as part of an overall package that have some sensible spending cuts simply want the Bush tax cuts to expire and go back to the Clinton years when the economy was humming along pretty nicely. I can buy that too. What I don't buy is the demagoguery of Democrats as spending liberals; that they don't give a hoot about the deficit, while Republicans are fiscal hawks and responsible stewards of the economy. Their voting records strongly suggest otherwise. I guess we'll see where the debate goes in the coming days and weeks, but cutting too much, too dramatically could harm what little economic momentum we've achieved over the past 2.5 years. |
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