[S]imply letting the Bush tax cuts expire on schedule (or paying for any portions that policymakers decide to extend) would stabilize the debt-to-GDP ratio for the next decade. While we’d have to do much more to keep the debt stable over the longer run, that would be a huge accomplishment. [OffTheCharts]
Jack Cluth — Lest any of us forget how we got to where we are:
It’s become almost an article of faith among the cognoscenti on the Right that Barack Obama’s policies are largely responsible for the mess we’re in. I suppose this only goes to prove two things:
- Americans have a disturbingly short and selective memory, and
- Americans are a highly suggestible, malleable, and an easily propagandized collection of barely lucid sheeple.
Follow the money: who’s benefited from Bush’s tax cuts for the wealthy? Who’s benefited from the Afghanistan / Iraq wars? Certainly not working- and middle-class Americans. Isn’t it strange that the working- and middle-class GOP base continues to support those who rob from them to give to the rich?
While we’re busy throwing more of our tax dollars at rich people, oil companies and corporate CEOs (instead of into our own treasury), the GOP is trying to convince us that ending Medicare is the only option available to patriotic Americans who want to manage our deficit.
The truth of the matter is that in order to continue diverting trillions in potential federal revenue to America’s millionaires, we probably will need to abolish Medicare.