#27 | Posted by docnjo
It's simple math, really. Akin to a household with some credit card debt where they go, 'hey, we'll cut our hours of work down and reducing our income, double our spending, and put it all on a credit card. Won't it be great!' So Republicans maxed out the credit card and slashed the income coming in. Money was going to be growing on trees, they said. Trickle down and create even more income, they said.
We had $5b in debt. George W Bush and Republicans said "Let's give everyone a tax break and reduce revenues!!" Then they did it a 2nd time. And doubled the budget, fighting the Iraq War 'off the books' so THAT debt wouldn't be written into the budge. As deficits began to skyrocket, they said, "Ronald Reagan proved deficits don't matter!" (while they're in office, anyway). Debt and deficits grew and grew.
They maxed out the credit cards all while working with less income thanks to their tax cuts. That didn't work.
When they were out of power they whined and bitched about debt, by then $12 trillion in 2009 while we were in the middle of an economic meltdown. Did they do anything to help average Americans who lost jobs and homes by the millions? Of course not! When the results of 'cut taxes' and recession-caused drops in revenue added to the mounting debt came home to roost, they only whined and screamed some more.
Then, miraculously, when Republicans got unitary control of government again, instead of paying down the debt (in this 'roaring economy') they never brought up "How are we going to pay for this." Instead, it was, "Hey! We don't care about debt or deficits anymore!" and passed another round of tax cuts instead of coming up with a plan to down the debt. Which would of necessity require more income. Which they'd slashed to the bone.
Now deficits are back over $1 trillion a year and they've guilt in systemic deficits. Doesn't work, does it?
Republican governance is an oxymoron.
The results? You know ...