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Originally Posted by JohnnyD
Really? Seems as though the Bush tax cuts have contributed significantly to the current economic situation, while also contributing to a massive increase in the national debt under his reign. One major criticism of current Dems is that if they cannot pay for their spending and debt increases significantly, we're in for major issues with inflation and long-term economic problems (which I fully agree with).
I would be curious to read any article you may have seen about how every single time, tax cuts have resulted in a long-term improvement in the economy and jobs; while also not contributing to an increase of debt.
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So now it's the tax cuts that led to the deficit? I thought it was the war in Iraq?
Tax cuts are really just a loan from the government which is to be paid back in future taxes. And in reality, they've been very successful in the US and other countries in the past. Unfortunately for us right now, a tax cut wouldn't be successful because you need to have a reduction in government spending in conjunction with the cuts. This administration has already shown that government spending is on the increase with no sign of slowing down. You also must have consumers willing to put money back in the economy. If they have no confidence, they won't spend the money. Right now, consumer confidence is extremely low.