« Respect and Two-Way Streets | Main | links for 2008-09-10 »

Tuesday, September 09, 2008

"Yes, Bush's Economic Policies Are a Failure"

Tax cuts paying for themselves, or not:

Yes, Bush's Economic Policies Are a Failure, by Brad DeLong: Rex Nutting of Marketwatch:

Budget outlook worsens on war, economy - MarketWatch: With the economy weakening and spending on the war rising, the federal budget outlook has deteriorated in both the short-run and the medium-term, the Congressional Budget Office said Tuesday. In its summer budget update, the nonpartisan budget office said the federal deficit would likely double this year compared with last year, and remain at about 3% of gross domestic product for the next two years. ...

Unlike the February update, which showed the budget roughly in balance through 2018 under favorable assumptions, the September projection now sees deficits totaling $2.3 trillion over the next 10 years. Those projections assume that the 2001 and 2003 tax cuts expire and that the alternative minimum tax is not changed. If the tax cuts are extended as the White House and the McCain-Palin ticket want, the deficits over the next 10 years would be $4.2 trillion higher than now projected, CBO said.

The reason McCain-Palin want to continue these policies is that they believe suggestions that the policies haven't worked for the majority of Americans can be attributed to whining. So, if you want to continue being berated for whining about the obvious problems you face, McCain-Palin is the ticket for you.

    Posted by on Tuesday, September 9, 2008 at 03:33 PM in Budget Deficit, Economics, Fiscal Policy, Taxes | Permalink  TrackBack (0)  Comments (24)

    TrackBack

    TrackBack URL for this entry:
    https://www.typepad.com/services/trackback/6a00d83451b33869e201053494561b970b

    Listed below are links to weblogs that reference "Yes, Bush's Economic Policies Are a Failure":


    Comments

    Feed You can follow this conversation by subscribing to the comment feed for this post.