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UCmeNdc

(9,600 posts) Sun Oct 29, 2017, 02:49 PM Oct 2017

GOP Doesnt Seem To Hate Debt So Much Now That It Wants A Tax Cut

Republican leaders support tax cuts adding trillions to the national debt now, but had dire warnings about it under the Obama administration.

When the Republicans are in charge all of a sudden deficits do not matter. The GOP spends government money like a drunken sailor.

WASHINGTON ― The late 1970s, the mid-1990s and the period from 2009 through last November have two things in common.

The first is that top Republicans spoke with grave concern about budget deficits and a growing national debt. They issued dire warnings that the red ink was mortgaging the nation’s future and inviting economic calamity.

The second thing those years all had in common: A Democrat happened to occupy the Oval Office. It was Jimmy Carter in the ’70s, Bill Clinton in the ’90s and Barack Obama most recently.

But what about the other years, when Republican presidents were in the White House?

Deficits and debt, for whatever reason, seemed far less threatening then.

When Vice President Dick Cheney and his boss George W. Bush decided in 2002 to pursue a second round of massive tax cuts, Cheney put it this way: “Deficits don’t matter.”

https://www.huffingtonpost.com/entry/gop-obama-debt_us_59f393a8e4b077d8dfc9adff?ncid=inblnkushpmg00000009

3 replies

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GOP Doesnt Seem To Hate Debt So Much Now That It Wants A Tax Cut (Original Post) UCmeNdc Oct 2017 OP

Totally agree, benld74 Oct 2017 #1

Everytime a Dem politician refers to this tax cut they should call it TheDebbieDee Oct 2017 #2

I have read somewhere that the actual budget deficit will increase a staggering 3 trillion dollars UCmeNdc Oct 2017 #3

benld74

(9,904 posts)

1. Totally agree,

Reply to UCmeNdc (Original post)

Sun Oct 29, 2017, 03:03 PM

Oct 2017

Only when including easing debt is either proposed by a Dem., or
To assist their own country (infrastructure)
To assist their own constituents(health care)

TheDebbieDee

(11,119 posts)

2. Everytime a Dem politician refers to this tax cut they should call it

Reply to UCmeNdc (Original post)

Sun Oct 29, 2017, 03:03 PM

Oct 2017

the republican's 1.5 trillion dollar increase to the government's budget!

Will they? Do the Dems ever do smart small things to help themselves?

Also, George Lakoff, a linguist at UC Berkley says that Dems should refer to regulations (EPA, FDA, Mortgage, health insurance, etc) as protections. They should be stating over and over that republican resistance and refusal to regulate business and industries is a resistance and refusal to protect citizens/taxpayers from the predatory practices of businesses and industries...

Lakoff said this a lot more succinctly than I did - you could fit what he said on a bumpersticker!

UCmeNdc

(9,600 posts)

3. I have read somewhere that the actual budget deficit will increase a staggering 3 trillion dollars

Reply to TheDebbieDee (Reply #2)

Sun Oct 29, 2017, 04:33 PM

Oct 2017

under this GOP tax cut plan.

Little evident concern for the effect on the deficit
As best as can be determined today, the numbers behind the proposal are so off base as to make the whole enterprise laughable. The document released this morning makes no projections as to its cost. The Committee for a Responsible Federal Budget puts the figure at roughly $5.8 trillion over the 10-year budget window; other estimates put the price tag at $5 trillion or so. To put this number into context, the total Treasury debt held by the public today is about $15 trillion; a $5 trillion revenue shortfall would by itself require federal borrowing equal to one-third of the debt currently in the hands of the public.

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