Given their history, why anybody would give one ounce of credibility to any Republican and their faux concern about deficits is beyond me. But for those few amnesiacs who did, John Kyl should have cleared that up yesterday with this:
Two other deficit hypocrites, Judd Gregg and Eric Cantor chimed in:
Never mind that when it came to extending unemployment benefits Gregg said, "we are on the path of passing on to our children a nation which they will not be able to afford as a result of the massive debt which is being put on their backs."
That was over $33 billion. Extending the Bush tax cuts for the wealthy will cost about $700 billion.
But, but, but, extending the tax cuts will "spur" and "stimulate" the economy, right? If this sounds familiar, here's why. January, 2004:
The result? "The worst private sector jobs record of any administration in 75 years."
The Bushies were right about one thing. The economy was great--if you happen to be in the top 1%, that is.
"Surely Congress has the authority, and it would be right to -- if we decide we want to cut taxes to spur the economy, not to have to raise taxes in order to offset those costs. You do need to offset the cost of increased spending, and that's what Republicans object to. But you should never have to offset cost of a deliberate decision to reduce tax rates on Americans."
Two other deficit hypocrites, Judd Gregg and Eric Cantor chimed in:
"Sen. Judd Gregg (N.H.), the top Republican on the Senate Budget Committee, joined House Minority Whip Eric Cantor (R-Va.) in pushing for the extension of a series of taxes set to expire at the end of this year, including a series of cuts for households making more than $250,000 per year.
"If you want to do something to stimulate the economy, you could make clear that tax rates aren't going to go up at the end of the year," Gregg said during an appearance on CNBC. "If this administration really wants to stimulate, say they're going to continue those tax rates -- all those tax rates."
Never mind that when it came to extending unemployment benefits Gregg said, "we are on the path of passing on to our children a nation which they will not be able to afford as a result of the massive debt which is being put on their backs."
That was over $33 billion. Extending the Bush tax cuts for the wealthy will cost about $700 billion.
But, but, but, extending the tax cuts will "spur" and "stimulate" the economy, right? If this sounds familiar, here's why. January, 2004:
"The tax relief the president has given to this economy is working," Commerce Secretary Don Evans told CNN's "Late Edition." "On three separate occasions over the last three years, he's provided additional tax relief for American workers, American families, businesses across America, and guess what? It's working. The results are showing that it's working."
...Treasury Secretary John Snow predicted that hiring will pick up in 2004.
"All the evidence points in that direction," Snow told ABC's "This Week." "And everything we know about economics indicates that, as you get an economy into high gear, as you get a strong recovery under way, it does translate into jobs."
The result? "The worst private sector jobs record of any administration in 75 years."
The Bushies were right about one thing. The economy was great--if you happen to be in the top 1%, that is.
The deficit is a just a political football at this point. I wonder if that graph could be redone to show percentage job growth of population. I have a feeling that Kennedy/Johnson would look that much better and thus demonstrate that the two biggest periods of job growth occurred under Democratic presidents. Funny but Carter doesn't look that bad either.
FantasyLand, I usually agree with your comments 100%, but this time I think you've overstated who gets to control - 5% is just too big a club -- more like 1-2% I'm guessing. I saw something a few days ago where the wealthy have already recovered from the recession and are now working on record breaking profits on their investments. I wish the guy that did the Lcurve, David Chandler, would update his info - I'm sure it would be very informative!
@Sam Davis - a scholar and a gentleman! Thanks for the compliment.
I really wish people would see the America the RepubliCONs and their puppet masters are trying to create.
An America where the top 5% control everything from health care to education. They get to decide who lives and who gets educated. These traitors would kill us all if it meant saving them a buck. They don't care about us, but you sure as hell better care if they have an extra 200k to buy that Bentley they had their eye on. If you don't they will destroy you.
OMG, I think I'm in love - with your ideal(s)!!!
What a great idea, unfortunately the grumpy old white men (and women) would never turn their back on "their base"
"some people call you the elite. I call you my base." George Bush, 2000
I say Kyl is right - we need to fund the unemployment benefits extension -- by not allowing the tax cuts to the wealthy expire. In fact, with the money left over, we need to have a second REAL stimulus...drafted by Paul Krugman - economist of the people! (the rich can keep Greenspan et al)
It appears the Republicans think the middle class doesn't deserve to lead nice lives, and no one should be able to better themselves. I understand that Kyl (he deserves neither Senator nor Mr.) said that if they extend the tax cuts for the rich, it will reduce the size of govenment. I've always felt I was fairly logical, but I can't get my brain around that considering we're in two expensive wars and have high unemployment. Please, Kyl and cohorts, explain to us little people how that worked out under Bush and how it will work now.
i agree, the Democrats are almost completely lacking in feck....and we have a Republican party that hasn't done a single thing wrong. Ever.
Nobody in this country wants to take responsiblilty for anything. We complain about the loss of manufacturing jobs(it's the unions i tell ya, the yoooooonyuuuuuuuuns!) overseas, but don't hesitate to run on down to the wallmart and load up on cheaply made chinese goods. We rail against the mass invasion of illegals(with numbers that fluctuate like helicopter with one blade)but aren't willing to do the jobs they do at the prices they charge...or even hold businesses that hire illegals accountable. We're teenagers, with the deadly certainty of youth telling us that we are blameless for our own state of being. Anything that happens is something that has been done to us and not something we had a hand in doing...and we're danmed mad about it.
You know, at some point our society is going to have to grow up or just die young....or else we will turn into that guy everyone graduated with who still acts like he's in high school and annoys EVERYONE at the reunions.
Being the greatest country in the world takes work...
Republicans are stupid, Democrats are stupid...The advantage the Republicans have is their Darwinian-given animal cunning and ferocity. They will continue to win the battle of outrageous fantasy over mundane reality because America is a mentally moribund society enabled by a feckless Democratic party.
...thought I'd throw in a couple of vocabulary words of the day for the cause...
A NPR special Sunday afternoon had a representative from Moody Analytics talking about how much money tax cuts return to the economy versus how much is gained by extending unemployment benefits. They testified before Congress about their findings last April.
Tax cuts return .32 for each dollar. This is due to the fact the upper middle class and the wealthy simply save most of what they get.
The unemployed, on the other hand, spend all of what they get on essentials which has a multiplier effect on the economy. We get a benefit of well over a dollar for each dollar spent.
All of this information has been available to Mr. Kyl and colleagues (I can't use the term 'Senator' for these jerks) but they are once again willing to score political points by pushing tax cuts which won't help versus extending unemployment which will.
These idiots must think that the entire country has the same IQ as Sarah Palin.
Bad GOP! Bad! Bad! You messed the country up so you can NOT be allowed to mess with it any longer! Go to your room and STAY THERE!
Kyl and the GOBP started worshipping at the altar of deficit-reduction on 1/21/09 - before that, they couldn't even spell it, and spent 2001-2009 proving it.
Kyl's loopy comments should be looped over and over and over in Democratic campaigns this fall.
But Desperado, rich people wouldn't be rich if they didn't deserve it. It's the plebes who should bear the burden of keeping our roads pothole-free and our soldiers armed. After all, we rich are the ones who keep everything else going in this country. We're the reason you're _employed_, for goodness' sake. Why on earth should we have to take care of the scut work, too? - that, after all, is what taxes are for, and taxes are only for the little people. You know, the people who don't have to keep the economy going, single-handedly.
Oh, and while you're at it, peel another grape for me, dahling.
/sarcasm