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Current Events » in reply to The Causes of the Budget Deficit: A Reckoning

re: The Causes of the Budget Deficit

I really appreciate you pointing these sites out. It gives me a chance to address these things at their source. Here's what I posted there:

Can you do a line on your first chart showing the extended tax cuts AND spending restrained to the rate of inflation? If Bill Clinton can make that fantasy happen, so could Bush. In real life, of course, fat chance that any President could pull that off, especially with even the Republicans in Congress going nuts for pork.

And of course, all of this graphwork is based on the rather odd assumption that $3.5 trillion left in the productive private sector over the next decade, instead of dumped down government ratholes, will do nothing good for the economy.

Not to mention the additional assumption that CBO projections are all that accurate. Their estimate on the 2003 defict back in August was $401 billion, and a few months later it actually turned out to be $375 billion. And I fondly remember them predicting, a few years ago, surpluses as far as the eye could see.

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