Quote:
Originally Posted by whell
If the government budget piling up red ink by the bus load, and increasing its rate of expansion, is not the time to introduce fiscal restraint, then precisely when IS the time to introduce it?
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When Republicans are in charge. That is the time to practice fiscal restraint.
Jude Wanniski's "Two Santa Clause Theory is simple. In 1976 Wanniski proposed to the Republican party a plan to reduce taxes while massively increasing spending when Republicans are in power. The lower taxes puts more money into peoples hands and they spend it. That gives a short term boost to the economy and everybody is fat and happy.
Then when Democrats gain control there is no money for them to sustain their progressive programs like the New Deal. Wanniski advised Republicans to scream about spending and the budget deficit when not in power and keep there mouth shut when they are in power.
When Republicans are in power they are Santa when they are out of power the Democrats that come in have to raise taxes, lower funding for programs, generally acting like the anti-Santa as they try to clean up the mess the Republicans left behind. That is the two Santa theory in a nutshell
It started with Reagan who instituted a massive tax cut then he started spending money like a madman tripling the budget deficit before he left office. Did you hear a single Republican screaming about his out of control spending. I didn't.
When Bush II took office one of the first things he did was institute a massive tax cut. Then he started spending like a drunken sailor on leave. First Afghanistan which should have ended when the CIA and the Rangers had bin Laden cornered in Tora Bora. The Neo-Cons wanted to invade Iraq so bad that they did not care about capturing the man who claimed responsibility for 9/11. So Bush lied us into the Iraq war.
The wars, hiring mercenaries, hiring private contractors like Halliburton who was on their way to bankruptcy before the wars started, and the massive big pharma giveaway called Medicare part D were all "off the books". Bush spent trillions and trillions of dollars in his eight years in office. Can you name one thing he did to promote the general welfare of the people in this country? I can't think of one.
Did you hear one Republican anywhere screaming about Bush's out of control spending? I didn't.
So in comes Obama to inherit Bush's screw ups. I am sure he was stunned at just how bad things really were. He proceeded to start putting the country back together with almost no help from the Congress. Slowly but surely things are getting better.
Do I hear the Republicans screaming about the budget deficit and spending. Yep, I hear it all day everyday.