The tax cuts and the deficit
Geez, wasn't it just a few weeks ago we had an election and the republicans spent untold cajillions of dollars telling the public how they were going to balance the budget and cut federal spending? Or did I miss something? And didn't the public reward them in a show of support for that goal?
Now this same party, before the folks that have been recently elected can even take office, are abandoning all of that and going off on a spending spree with their democrat buddies to pass tax cuts on which are going to increase the deficit.
The newest talking points is that this tax cut is going to be "stimulus." Oh really? Wasn't it the Bush tax cuts that ultimately are responsible for doing in the economy? Didn't the democrats campaign on how bad the Bush tax cuts ruined the economy? Maybe it's all a dream.
The problem doesn't go away. Now all the politicians are saying that to balance the budget will be worse for the economy than going further in debt without increasing income. Can that be right? So where are the journalists in holding these peopel accountable? Just this afternoon I heard on an NPR report that Moody's was projecting that the US credit rating was going to be lowered in the months to come. And why shouldn't they? We talk about trying to balance our budget, but that day isn't anywhere on the horizon. How many year mortgage do you we have on our future? Is it 30 year adjustable? Or maybe a 50 year fixed?
But it blows my mind how these politicians can blow like the wind. What they said yesterday doesn't mean a thing if they think they can get away with saying something completely different today. And a lot of the time, they do get away with it. Amazing.