Posted on 07/12/2006 3:43:56 AM PDT by qlangley
The US budget deficit is falling, but it is expected to rise again next year. Unfortunately Rob Portman, head of the Office of Management & Budget has fallen into the leftist trap of saying next year's rise is due to a slow in the growth of revenues.
Huh? Revenues go up (albeit more slowly) and this causes the deficit to go up? Nope. Arithmetic does not work like that. If revenue goes up and the deficit goes up that can only be because expenditure is rising even faster.
As ever, the deficit is caused by runaway expenditure.
Quentin Langley is editor of www.quentinlangley.net an academic at the University of Cardiff and is a columnist with Campaigns & Elections.
Its called politics...when spending rises...by billions of dollars...a percentage of that cycles back around into the guys that voted for it.....those that don't support it, have to get by with the peanuts their supporters have in their pockets.....
True, the rising expenditures are a part of the problem. But expenditures are affected by revenue: the more money the Congresscritters think we have, the more they'll spend.
>True, the rising expenditures are a part of the problem.
No, they ARE the problem.
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