Budget Woes

This analysis, by the Center on Budget and Policy Priorities, highlights the hole the Republicans have dug for us over the past few years: Budget Deterioration from 2000-2006
One of the Largest Ever

The deterioration in America’s budget is both startling and historically huge. Yet the public rarely focuses on it. The year on year damage is bad enough, but the comparison with the 1990’s is downright depressing.

The rhetoric that “the tax cuts pay for themselves” is blown away by study after study. Even the Treasury’s latest effort which you can find an anlysis of here: Analysis of Tax Cuts shows that, at best, only 10% of the tax cuts will ever be paid for by economic improvements resulting from those same tax cuts. On the contrary the evidence is overwhelming that unless the tax cuts are paid for immediately by offsetting cuts in government spending they end up hurting by reducing employment and investment levels later on.

There is no other way to put it: the Republican policy of the last few years has been an unmitigated disaster.

Our kids will look back at these years and ask why we hated them so much that we voted for Bush and his cronies.

And why do the Republicans hate the middle class so much?