DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - This Isn't Deficit Control. It's Assault.

**googlopharm** · 02-18-2011, 11:03 AM

Revenues were 20% of GDP under Clinton, and that was because of the stock market boom. Realstically, Clinton-era tax rates would yield 18% of GDP. Spending is set at 25% of GDP. Can't tax your way out of this one. Spending cuts will have to provide the bulk of the savings unless you have an idea for collecting more taxes than we've ever collected before.

And $60 billion, that's nothing. Secondly, all domestic agencies got a huge boost from 2009-2010. All these cuts do is get them back to 2008. These are not draconian cuts, this is just ending the stimulus. Democrats lied to the public to convince them to support this new spending as strictly stimulus. It's time for liberals to show some integrity and join everyone else in forcing Democrats to keep their promises.

I am not sure I am in conflict with much of what you have here, but my concern still stands. Debt spending cannot continue, the only conclusion is to match needed spending to a needed income. Now if the majority of that gap is made up by spending cuts then so be it but at the same time there very well may be some needed tax increase. Unsure what the levels would be but until the House becomes serious about real budget positioning, this is all a waste of conversation anyway. Just calling out Democrats and stimulus spending does not make up the budget gap, by itself, but does call out the spending resulting in mixed levels of economic realized success.

02-18-2011, 11:03 AM	#31
googlopharm Join Date Oct 2005 Posts 421 Senior Member	Revenues were 20% of GDP under Clinton, and that was because of the stock market boom. Realstically, Clinton-era tax rates would yield 18% of GDP. Spending is set at 25% of GDP. Can't tax your way out of this one. Spending cuts will have to provide the bulk of the savings unless you have an idea for collecting more taxes than we've ever collected before. And $60 billion, that's nothing. Secondly, all domestic agencies got a huge boost from 2009-2010. All these cuts do is get them back to 2008. These are not draconian cuts, this is just ending the stimulus. Democrats lied to the public to convince them to support this new spending as strictly stimulus. It's time for liberals to show some integrity and join everyone else in forcing Democrats to keep their promises. I am not sure I am in conflict with much of what you have here, but my concern still stands. Debt spending cannot continue, the only conclusion is to match needed spending to a needed income. Now if the majority of that gap is made up by spending cuts then so be it but at the same time there very well may be some needed tax increase. Unsure what the levels would be but until the House becomes serious about real budget positioning, this is all a waste of conversation anyway. Just calling out Democrats and stimulus spending does not make up the budget gap, by itself, but does call out the spending resulting in mixed levels of economic realized success.
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