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Wednesday, September 15, 2010

Let's add another 44 trillion to the deficit

Mitch McConnell has a plan to do just that. He wants to extend the Bush tax cuts for all income groups permanently. Republican continue to insist that tax cuts actually increase tax revenue and don't add to the deficit despite evidence to the contrary from both the Reagan and Bush tax cuts.

The neutral CBO has already calculated that a similar proposal to the one McConnell has will add 43.9 trillion to the deficit over the next decade.

Despite their avowed opposition to deficits remember that both Karl Rove and Dick Cheney both said "deficits don't matter', especially when they are created by Republican economic fantasies.

Full story here.

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