Friday, July 16, 2010

Republicans Deny CBO report Bush Tax Cuts will make Deficits Skyrocket.

How did we get to this recession; through deficits created by the unpaid for Bush tax cuts. In the mind of conservatives, off-setting the tax cuts to pay the government bills isn't necessary. To them, it's not spending. Even better...

Washington Post- Ezra Klein: How about the Congressional Budget Office’s estimations? “The new CBO data show that changes in law enacted since January 2001 increased the deficit by $539 billion in 2005. In the absence of such legislation, the nation would have a surplus this year. Tax cuts account for almost half — 48 percent — of this $539 billion in increased costs.” How about the Committee for a Responsible Federal Budget? Their budget calculator shows that the tax cuts will cost $3.28 trillion between 2011 and 2018.

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