Sunday, April 10, 2011

No Crisis in shut down! No Crisis in Washington--except that Lobbyists control the People's congress

I scooped the DAILY KOS in identifying the sky is falling phenomena: I.e. There is no crisis!

I even beat the DAILY Kos and other progressive media when I wrote: “FROM A PROGRESSIVE OR DEMOCRAT PERSPECTIVE–A SHUT-DOWN WILL BRING THEM SMELLING LIKE ROSES unless they play cards very badly”. Americans are getting the message even if Congress doesn’t/–KAS

Matee said on “There Is No Crisis”
April 9, 2011 at 3:19 pm

This is insane.

“That’s been the majority Republican view for some time,” Minority Leader Mitch McConnell told TPMDC this afternoon after the weekly GOP press conference. “That there’s no evidence whatsoever that the Bush tax cuts actually diminished revenue. They increased revenue, because of the vibrancy of these tax cuts in the economy.”

I was going to look this stuff up, but Ezra already did:

There’s an ontological question here about what, exactly, McConnell considers to be “evidence.” But how about the Congressional Budget Office’s estimations? “The new CBO data show that changes in law enacted since January 2001 increased the deficit by $539 billion in 2005. In the absence of such legislation, the nation would have a surplus this year. Tax cuts account for almost half — 48 percent — of this $539 billion in increased costs.” How about the Committee for a Responsible Federal Budget? Their budget calculator shows that the tax cuts will cost $3.28 trillion between 2011 and 2018. How about George W. Bush’s CEA chair, Greg Mankiw, who used the term “charlatans and cranks” for people who believed that “broad-based income tax cuts would have such large supply-side effects that the tax cuts would raise tax revenue.” He continued: “I did not find such a claim credible, based on the available evidence. I never have, and I still don’t.”

There’s always this:

There’s also the freakin’ fact that Bush inherited big surpluses from Clinton, and left the nation’s finances in shambles by the time he left. How come Bush’s tax cuts didn’t pay for themselves?

And finally, there was the Obama tax cuts in the stimulus package — the largest in the nation’s history. Somehow, given all the screaming about the deficit, it’s pretty obvious those tax cuts didn’t pay for themselves.

Seriously, how can one have a real debate in this country when one of the political parties so divorced from reality and common sense?




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