(click link to view the graph first)
Now compare the size of the tax cuts to the total amount of spending and you will see where the problem lies. Compare $700 billion—the tax cut the president said “would drastically expand the deficit”—to $41.9 trillion ($41,911 billion).
Friday, October 08, 2010
Why It Pays To Know A Little Bit Of Math
Even minimal facility with numbers can help you see when a politician--even the president--is essentially trying to mislead you.
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4 comments:
The non-partisan Tax Policy Center has clearly explained that the biggest contributors to the deficits and the growing debt are the 01 and 03 tax cuts.
When they agree with you they're always "non-partisan". Letting people keep their own money doesn't add to debt, mazenko, spending more than you have does.
I think last year's porkulus added a bit to the debt, don't you?
Cutting your income while intentionally increasing your spending - two wars, expansion of DHS, Medicare D - leads to increased debt.
Exactly, the stimulus bill added "a little bit" to the debt - entirely reasonable for the government to spend when the private sector isn't. No rational economist, including credible conservatives like Mankiw and Meyerson, ever disputes that.
Another point about the "porkulus," as you call it, after checking the numbers.
40% of the $600 million already allocated of that "pork" or "government spending" was ... wait for it ... tax cuts/credits!!!
So, what was it you were saying about adding to the deficit?
Hmmmmm.
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