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To: BfloGuy
But the amount of spending in the stimulus bill became part of the so-called baseline budget and is now spent every year over and over.

Yes indeed. And this Rex Nutting idiot came up with his "surprise" spending figures by attributing the money spent from the stimulus bill to George Bush!

The lies liberals tell never cease to amaze.

7 posted on 05/24/2012 2:59:52 PM PDT by mojito
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To: mojito

The Bush Tax Cuts and the Deficit Myth —

Runaway government spending, not declining tax revenues, is the reason the U.S. faces dramatic budget shortfalls for years to come.

With Washington set to tax $33 trillion and spend $46 trillion over the next decade, how does one determine which policies “caused” the $13 trillion deficit? Mr. Obama could have just as easily singled out Social Security ($9.2 trillion over 10 years), antipoverty programs ($7 trillion), other Medicare spending ($5.4 trillion), net interest on the debt ($6.1 trillion), or nondefense discretionary spending ($7.5 trillion).

There’s no legitimate reason to single out the $4.7 trillion in tax cuts, war funding and the Medicare drug entitlement. A better methodology would focus on which programs are expanding and pushing the next decade’s deficit up.

Entitlements and other obligations are driving the deficits. Specifically, Social Security, Medicare, Medicaid and net interest costs are projected to rise by 5.4% of GDP between 2008 and 2020. The Bush tax cuts are a convenient scapegoat for past and future budget woes. But it is the dramatic upward arc of federal spending that is the root of the problem.

http://online.wsj.com/article/SB10001424052748704738404575347302831199046.html?mod=WSJ_Opinion_LEADTop


14 posted on 05/24/2012 3:20:32 PM PDT by TurboZamboni (Looting the future to bribe the present)
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