Wednesday, June 8, 2011

How Republicans and The Bush Tax Cuts Blew Up The Deficit

How The Bush Tax Cuts Blew Up The Deficit

Today marks the 10th anniversary of the first of President George W. Bush’s two tax cuts, which have played a disproportionate role in blowing up the deficit and debt. As the Center for American Progress’ Michael Ettlinger and Michael Linden found, the federal debt would be at a sustainable level today — even with the wars and the financial crisis — were it not for the Bush tax cuts. ThinkProgress has assembled this short animation showing how the Bush tax cuts drove the deficit and debt up and are still ruining the budget picture today. ( video at link)

Adding insult to injury, in 2001, Bush promised that he would pay off the federal debt within 10 years.
One of the reasons the nation will be playing national debt ping pong for years is because Republicans cut off the revenue to pay for the debt they created. Its like they went crazy with the MasterCard and refuse to pay the bill. They passing that bill down to our children and grandchildren. There is no real deficit problem, there is a revenue problem caused by irresponsible and immoral conservative voodoo economics.

How Koch Became An Oil Speculation Powerhouse - From Inventing Oil Derivatives To Deregulating The Market

The joys of repressed voyeuristic titillation

There are few things more sickening -- or revealing -- to behold than a D.C. sex scandal. Huge numbers of people prance around flamboyantly condemning behavior in which they themselves routinely engage. Media stars contrive all sorts of high-minded justifications for luxuriating in every last dirty detail, when nothing is more obvious than that their only real interest is vicarious titillation. Reporters who would never dare challenge powerful political figures who torture, illegally eavesdrop, wage illegal wars or feed at the trough of sleazy legalized bribery suddenly walk upright -- like proud peacocks with their feathers extended -- pretending to be hard-core adversarial journalists as they collectively kick a sexually humiliated figure stripped of all importance. The ritual is as nauseating as it is predictable.