» Fiscal Chart of the Day: Heritage Shows That Unprecedented Spending, Not Taxation, Is Our Real Problem - Le·gal In·sur·rec·tion: "Besides, non-economist that I may be, I’m fairly certain that increasing taxes to make up for lost revenues in a recession violates the prescriptions of both Keynesian and supply-side economics. But I guess class warfare demagoguery can work as a political strategy even if it doesn’t work as an economic one.Speaking of Rx violations, I wrote a take-down of O Duce's tax brilliance here that also pointed that out.
The Obama administration’s profligate spending policies have jumped spending almost to 25% of GDP, and between the ObamaCare bomb and the Baby Boomer retirement entitlement bomb, the government’s share of the economy will continue grow to unmanageable levels. We have a long-term, policy-driven spending problem and a short-term, economically-driven revenue problem, and until President Obama and the Democrats get serious about the spending mess they’ve got us into, no amount of even-sounding talk is going to get us out of it."
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