We do NOT have a spending problem. We have a revenue problem. When Mr. Bush slashed taxes, we were assured that this would rev up the economy to such an extent that the enhanced economic activity would supply new tax revenues to replace those lost by the cut. Three years later and before the Great Recession, this had not happened. Rather, we went from surpluses under President Clinton to deficits under Mr. Bush. And then the great Wall Street debacle completely tanked the economy. Without the revenue stream to properly run government, it is difficult to make things better for anyone but those who already have far more than they need or could ever spend.
May 31, 2016
May 24, 2016