Showing posts with label Deficit. Show all posts
Showing posts with label Deficit. Show all posts
Monday, December 6, 2010
Wednesday, October 6, 2010
Dan Mitchell Breaks it Down: It's Simple to Balance The Budget Without Higher Taxes
Even at the current spending levels, tax hikes aren't needed.....
We can simply start cutting vast amounts of federal agencies in jurisdictions outside those granted the federal government by the Constitution. But as Mitchell puts it, no one in Washington cares about the Constitution anyway. If we just put a hard cap on spending, the budget would naturally balance itself in five years — with the Bush tax cuts still in place. The only reason to raise taxes is to allow Congress to spend more … which is the real reason for our massive deficits.
We can simply start cutting vast amounts of federal agencies in jurisdictions outside those granted the federal government by the Constitution. But as Mitchell puts it, no one in Washington cares about the Constitution anyway. If we just put a hard cap on spending, the budget would naturally balance itself in five years — with the Bush tax cuts still in place. The only reason to raise taxes is to allow Congress to spend more … which is the real reason for our massive deficits.
Sunday, July 18, 2010
Keeping Up with the Unemployment Rate
Here we go..
The light blue line represents what unemployment would be had nothing been done to stimulate the economy. Notice, we stay around 9%.
The dark blue line represents what unemployment would be after the stimulus passed. You know the promise that unemployment would be under 8%, yada, yada....
We went past that percentage. The maroon dots represent the ACTUAL unemployment data, peaking above 10%. A lot of factors led to this happening. Geithner's prediction (March 2010) to Congress is that unemployment will not drop to 8% until the 4th quarter of 2012.
Just prepare. Starting next year, a range of tax cuts expire, new taxes begin and government spending increases. The IRS reported that they do not have the manpower or resources to enforce the mandate for the new Healthcare bill, new tax to pay for that (via Hotair). The President has now changed his stance on the mandate and is admitting that it's a tax. A very hostile environment for economic growth and the unemployment situation. Numbers are my thing, and I'm tired of being right
The light blue line represents what unemployment would be had nothing been done to stimulate the economy. Notice, we stay around 9%.
The dark blue line represents what unemployment would be after the stimulus passed. You know the promise that unemployment would be under 8%, yada, yada....
We went past that percentage. The maroon dots represent the ACTUAL unemployment data, peaking above 10%. A lot of factors led to this happening. Geithner's prediction (March 2010) to Congress is that unemployment will not drop to 8% until the 4th quarter of 2012.
Just prepare. Starting next year, a range of tax cuts expire, new taxes begin and government spending increases. The IRS reported that they do not have the manpower or resources to enforce the mandate for the new Healthcare bill, new tax to pay for that (via Hotair). The President has now changed his stance on the mandate and is admitting that it's a tax. A very hostile environment for economic growth and the unemployment situation. Numbers are my thing, and I'm tired of being right
Thursday, July 15, 2010
We're In Good Hands....
Debt Commissioner Bowles, of our official Deficit Commission, comes to the great conclusion of cutting spending and increasing revenues to save the economy. We needed a commisson for that?!
Seriously, any economist could tell you that! Every Republican was saying that! How about you cut spending by disbanding this group of idiots and save us taxpayers from paying your salaries!
Seriously, any economist could tell you that! Every Republican was saying that! How about you cut spending by disbanding this group of idiots and save us taxpayers from paying your salaries!
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