April 22, 2005

News Flash: Reckless Tax Cuts May Lead To Deficits

Alan Greenspan is now worried about the regular, growing, yearly federal budget deficits and is shocked (Shocked!) that anyone might blame him, at least in part, for bringing them on.

His testimony was absurd in that it spoke of the need to cut funding to crucial programs as the only way out of structural deficits. Thing is, he advocated for both major rounds of Bush tax cuts -- only now admitting that his forecasts may have been a bit off the mark.

Of course, on a certain level he is right: The amount of money that the government spends on programs should bear some resemblance to the amount of revenue that it collects. However, in the year 2005, talking about revenue shortfalls out of the context of the last four and a half years strains credibility.

3 Comments:

At 11:51 PM, Blogger MarylandPolicyBlog said...

Graham

Well done. (Are you getting other work done, too?)

This is good reading. What are you all doing to get the word out about your blog? (I only found out about it from another blogger who was linking to my blog).

Look forward to reading a post from Kelly.

Steve Hill

 
At 1:41 PM, Anonymous John Lewis said...

Nice blog, but a quick word of advice: unless you're keeping a low profile, turn on your "site feed" (it's an option in Blogger). I read a lot of blogs, and if they don't have a site feed, they don't get read.

 
At 11:15 AM, Anonymous squarestater said...

Graham,

FYI, there's a good conversation going on at the Washington Monthly blog:http://www.washingtonmonthly.com/archives/individual/2005_04/006194.php

(Sorry I don't know how to do hyperlinks in comments).

That would be a good place to get Talking Taxes into the mix.

 

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