
09-25-2011
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Senior Ladyboy Lover
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Join Date: Oct 2008
Location: S. Calif.
Posts: 2,502
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Quote:
Originally Posted by TracyCoxx
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Yes that chart does look suspicious. Here is some explanation.
From NY Times
Quote:
A few lessons can be drawn from the numbers. First, the Bush tax cuts have had a huge damaging effect. If all of them expired as scheduled at the end of 2012, future deficits would be cut by about half, to sustainable levels. Second, a healthy budget requires a healthy economy; recessions wreak havoc by reducing tax revenue. Government has to spur demand and create jobs in a deep downturn, even though doing so worsens the deficit in the short run. Third, spending cuts alone will not close the gap. The chronic revenue shortfalls from serial tax cuts are simply too deep to fill with spending cuts alone. Taxes have to go up.
In future decades, when rising health costs with an aging population hit the budget in full force, deficits are projected to be far deeper than they are now. Effective health care reform, and a willingness to pay more taxes, will be the biggest factors in controlling those deficits.
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Gulp!
__________________
"Man's capacity for justice makes democracy possible; but man's inclination to injustice makes democracy necessary." R.N.
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