Deficit Down, Spending Still Going Up
July 11th, 2006 by MaxBrian Riedl of the Heritage Foundation looks a little closer at the falling budget deficit and finds:
Overall, tax revenues are growing at the fastest pace in forty years. At the same time, this year’s 9% spending increase is the largest since 1990. Lawmakers should not congratulate themselves for deficit reduction that resulted from higher tax payments – not from any spending restraint in Washington. All long-term spending challenges still remain.
July 14th, 2006 at 10:24 pm
Re: Budget Deficit in Decline, Freedom Update, July 14, 2006
Giving no credit to tax cuts for generating increased tax revenues, liberals can only believe that had there been no tax cuts, there would have been that much more in tax revenues. They simply refuse to recognize the part tax cuts play in economic growth. They only lament what they perceive to be the unrealized (but actually unrealizable without the tax cuts) tax revenues that they covet for their social welfare programs. The Democrats wish only to get back to transferring wealth from the “undeserving” wealthy to the “helpless” poor, and they promise to eliminate all the Republican tax cuts just as soon as they regain control of Congress.
FreedomWorks, and organizations like it, must educate Americans about the basic economic realities that operate in our capitalistic economy. I hope you’re not just preaching to the choir, but reaching out to those who need this basic education. I am forwarding your newsletter to all my liberal friends. Someday, maybe they’ll “get it.”
Best regards,
Douglas G. Harrison
Treasurer, Republican Liberty Caucus of Minnesota
http://www.RLC.org
e-mail to: RLCMN@yahoogroups.com