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Thread: About that $4 Trillion Deficit

  1. #1
    Senior Member Qtec's Avatar
    Join Date
    May 2003
    the Netherlands

    About that $4 Trillion Deficit

    A quick word about this:

    The CBO determined Tuesday that the package, hammered out late Monday evening by Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.), would — over the next decade — come with a $3.9 trillion price tag.

    The price tag is calculated based on the deficit if the Bush tax cuts had been able to completely expire. So any Republicans screaming about the fiscal cliff deal’s deficit-creation doesn’t know what they’re talking about and, in fact, the Republicans supported a larger deficit by making all of the Bush tax cuts permanent. The president and the Democrats, meanwhile, wanted more of the tax cuts to expire than the Senate Republicans. Establishing the cut-off at $250,000 would’ve created less of a deficit than the McConnell-backed $400,000 cut-off.
    So they are now complaining about the cost, while their own plan would have cost more!!??

    Maddow has more on this. She nails the hypocrisy of the Republicans.

    There’s nothing necessarily wrong with Bret Baier asking for the clearly-labeled opinions of commentators, notwithstanding the merits of those opinions. Where he errs is in substituting those opinions for clear, accurate information.

    Meanwhile, over on MSNBC, Rachel Maddow delivered her analysis of the CBO report, which included her commentary on Republicans trying to have it both ways on tax cuts and the deficit, but also clearly explained the logic behind the CBO’s calculation, and she even let Republican Congressman Darrel Issa explain it:

    For the last 10 years republicans have justified tax breaks as paying for themselves. ie, they don't cost money.
    NOW, SUDDENLY, they do.

    Can they ever be taken seriously on anything?

    Remarkable.You leak a story, and then you quote the story. I mean,that's a remarkable thing to do

  2. #2
    Senior Member
    Join Date
    Feb 2002
    I never believe anything any Repiglican says about anything, ever.

    Now, what are they going to do next? After all of their obstruction, and all of their anachronistic and offensive racism, misogyny, homophobia, wasting loads of money for the last severl years, and voting against anything to help those whom their policies have destroyed, does anyone really believe that they can get away with holding the country hostage to their threats not to pay for all of the debts they ran up?

    I'm sure their beloved corporate thieves are going to just love that!

    Hey, given the president got taxes up on those making $400,000, and couples $450,000, it was basically the same as the Clinton Tax raises, if you factor in for todays dollar value compared to the Clinton years.

    Now, if Repiglicans keep their threat to wreck our credit rating, after running up colossal debts, annd refuse to pay for everything they charged for eight years, throwing the country back into the deep Bush Recession, causing global economic losses, we won't have to worry about them for decades. The whole globe will be out to get them and for once, they'll really need those assault weapons.

    Last edited by Gayle in MD; 06-13-2014 at 07:14 AM.

  3. #3
    Senior Member
    Join Date
    Mar 2008
    South Florida
    Even the Ryan budget would have spewed red ink for about 20 years before it achieved its first balance. That's what passed the GOP majority House, twice.

    So that's the best they've even tried to do on deficit spending-- keep it up for 20 years, in order to shoe-horn in their tax cutting ideas, and then make it work 20 years out with exorbitant estimates of dynamic supply side effects on growth. So even their 20 year projection of balance was phony.
    A medium sized fish [...]

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