Charlie (Colorado)
2008-02-21 09:28:29
FJM: Regardless, though, the national debt is increasing. Bush’s tax cuts were good, but they were only half of the story; if you want to lower the debt, you have to cut spending AND taxes.
That’s not strictly true, except in the peculiar Washingtonian sense that not increasing at the rate someone asks for is a “cut”. If we could simply reduce the rate of spending increase to be less than the rate of increase in tax receipts due to positive GDP growth, both deficit and debt would eventually disappear and rather faster than you’d imagine.
