Search This Blog

Sunday, August 22, 2010

Republicans try to explain their fiscal policy and it's not pretty

This time it was Sen. Mitch McConnell the Senate Minority leader defying reality on 'Meet the Press' this morning.

The issue is extending the Bush tax cuts, specifically for the richest 2% and the effect it will have on the deficit. ($830 billion over the next 10 years for those counting).

The issue is how to 'pay' for them. Republicans used this concept to delay the extension of unemployment benefits as well as a bill to save over 130,000 teaching jobs nationwide. The Republicans filibustered until other budget cuts equaling the cost of the aforementioned bills were made, i.e. being 'paid for'.

Now that they're talking about extending the tax cuts for the top 2% they suddenly have no idea what 'paid for' even means. Read and cringe.

MCCONNELL: What are you talking about, paid for? This is existing tax policy. It’s been in place for ten years. [...]

GREGORY: For a final time, I’ll go back to my question which is, the extension of the tax cuts would cost $3.2 trillion. That’s borrowed money, that adds to the deficit. Do you have a plan to pay for that extension?

MCCONNELL: You’re talking about current tax policy. Why did it all of a sudden become something that we, quote, ‘pay for’?

This week, the Washington Post excoriated Republicans for almost unanimously backing a proposal by Sen. Jim DeMint (R-SC) that would permanently extend all of the Bush tax cuts, calling it “a chilling sign of what a number of lawmakers believe passes for fiscal responsibility.”

Despite arguing that deficit reduction is the top current priority, rather than job creation, when it comes time to protect their patrons, Republicans follow the lead set by both Karl Rove and Dick Cheney, who amidst the Bush deficit splurge both said on numerous times that, "deficits don't matter." They omitted the qualifier, that they don't matter only when a Republican is in the White House or when it serves their country club brethren.

No comments: