The policy of cutting taxes in order eventually to force cuts in spending has been in effect since 1980 and it has failed every year. 18 straight Republican budgets have failed to align revenues and spending. In that time, the national debt-to-GDP ratio has climbed by a total of 40 percent of GDP. We are diverting around 2 percentage points of our national income to service this huge increase in the public debt. In the 18 years that conservatives have pursued the policy of starving government, federal spending has increased by 2.3 percent of GDP. In contrast, between 1992 and 2000, federal spending was reduced by 3.7 percent of GDP. No Democratic administration since the end of World War II has left office with the national debt-to-GDP ratio higher than when it took office.
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1 comment:
It's true. When Clinton was in office, he nearly cleared up the national debt altogether. Now I am no fan of Rebpublicans, but I am equally not a Democrat, however, I tend to vote that way because most of them at least make some sense. And please, let's not get into a huge pokitcal debate. I have nothing to back up anything I say because I hate politics.
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