Are we so partisan that it's made us blind, deaf, and dumb? It certainly seems that way. The credulity on the right (occasionally bleeding into the left) about our economic history is just stunning. Over and over again we've watched the Republican party lead us into deficit, recession and, of course, the 2007-2008 debacle resulting from a gleeful absence of oversight and regulation.
"Play by no rules!" they say, and then send their team onto the field to fight for their idea of a win: a devastated economy and stunning deficits. It's about time for us throw them out of the game.
... According to a new report from the Congressional Budget Office, allowing the high-end tax cuts to expire on schedule would raise $823 billion in revenue and save $127 billion in interest payments on the debt over the next ten years.
As the CBPP [Center on Budget and Public Priorities] noted, “Overall, this would mean $950 billion in ten-year deficit reduction, a significant step in the direction of fiscal stability.” That’s nearly $1 trillion in deficit reduction for those concerned about the nation’s finances.
In addition to blowing up the country’s budget, the Bush tax cuts did not lead to the promised economic growth. In fact, the economy has fared worse under the GOP’s supply-side policies, on a slew of economic measurements, than it did when supply-side was not in effect. ...Think Progress