News Flash: Reckless Tax Cuts May Lead To Deficits


| | Bookmark and Share
Alan Greenspan is now worried about the regular, growing, yearly federal budget deficits and is shocked (Shocked!) that anyone might blame him, at least in part, for bringing them on.

His testimony was absurd in that it spoke of the need to cut funding to crucial programs as the only way out of structural deficits. Thing is, he advocated for both major rounds of Bush tax cuts -- only now admitting that his forecasts may have been a bit off the mark.

Of course, on a certain level he is right: The amount of money that the government spends on programs should bear some resemblance to the amount of revenue that it collects. However, in the year 2005, talking about revenue shortfalls out of the context of the last four and a half years strains credibility.

Thank you for visiting Tax Justice Blog. CTJ and ITEP staff will soon retire this domain. But ITEP staff are still blogging! You can find the same level of insight and analysis and select Tax Justice Blog archives at our new blog, http://www.justtaxesblog.org/

Sign Up for Email Digest

CTJ Social Media


ITEP Social Media


Categories