And no matter how many times the post is blocked, the facts are still the facts, and they don't change:
"Former Senator ALAN SIMPSON (Republican, Wyoming): Ronald Reagan raised taxes 11 times in his administration. I was here. I was here. I knew him. Better than anybody in this room. He was a dear friend and a total realist as to politics.
[Host Scott] HORSLEY: Simpson's recollection is spot on, says historian Douglas Brinkley, the editor of Reagan's diaries".
The historical myth that Reagan raised $1 in taxes for every $3 in spending cuts (Washington Post factchecker)
It is time to abandon this myth. Reagan may have convinced himself he had been snookered, but that belief is based on a fundamental misunderstanding of the deal he had reached.
Congress was never expected to match the tax increases with spending cuts on a 3-to-1 basis. Reagan appeared to acknowledge this in his speech when he referred to outlays (which would include interest expenses), rather than spending cuts. In the end, lawmakers apparently did a better job of living up to the bargain than the administration did.
If people want to cite the lessons of history, they need to get the history right in the first place.
For those who have spent some real time at the ocean shore, the changing of the tide is a facinating thing. It's very slow and bearly noticeable but what happens twice a day is the high tide is reached and the sea water gently stops coming in...and then, just as slowly, the tide begins to move back out as the ocean moves towards a low tide. Perhaps the same has begun happening with our deficit and budget. Despite all the whining, doomsday predictions and gnashing of teeth, we may be seeing a slow tide change.
Washington (MarketWatch)-In another sign of an improving debt picture, the Treasury on Monday said it expects to pay off debt in the current quarter for the first time in six years.
In a statement, Treasury said it now expects to pay off $35 billion of debt in the April-to-June quarter, compared to an earlier projection, given in February, that it would have to borrow $103 billion.
This will be the first quarter that Treasury has paid off debt since April-to-June period 2007.
The payoff “is emblematic of the turn in budget finances from horrible, to grim, on their way to steadily better,” said Eric Green, global head of rates and foreign-exchange research at TD Securities.
In a statement, Treasury said the changed projection related to higher receipts and lower outlays, but gave no details. The agency also said it expects to have more cash on hand than was previously assumed.
Congress allowed a payroll tax cut to expire at the beginning of the year. This tax hike and continued growth has put more money into the government’s coffers. The sequester, in effect since March, has helped cut outlays.
Solve the debt problem and the economy will improve.
FredHayek wrote: So the good side of sequester? It looks like we may have a couple of months before we have to increase the debt ceiling.
If you have ever played on a losing team that starts to get better....you know that you have to take baby steps at first and be happy for those small wins. You can work on playing in the World Series later.
FredHayek wrote: So the good side of sequester? It looks like we may have a couple of months before we have to increase the debt ceiling.
I thought that you said the sequester only affected the rate of future growth and had nothing to do with current spending. Which of course was total nonsense.
"Remember to always be yourself. Unless you can be batman. Then always be batman." Unknown
You need to stop showing your budgetary ignorance Dog. Google baseline budgeting. The budget automatically increases every year, but with sequestration, the rate of increase slows.
Thomas Sowell: There are no solutions, just trade-offs.
FredHayek wrote: You need to stop showing your budgetary ignorance Dog. Google baseline budgeting. The budget automatically increases every year, but with sequestration, the rate of increase slows.
Of course the rate of increase slows, because the cuts are immediate, already in place. Why do you think there have been furloughs all over the country? Hint, it was not because the rate of spending in the future is not going to increase as quickly at a future point. The cuts took place on March 2013. the budgets were cut, not increased slower as you keep claiming.
"Remember to always be yourself. Unless you can be batman. Then always be batman." Unknown
So since this sequestration was like the end of the world (for some), how the hell will we ever slow down the growing debt? IF the economy picks up and IF unemployment goes down, our wise politicians will do what they always do and make immediate plans to spend that extra revenue instead of paying down the debt.
It was always the women, and above all the young ones, who were the most bigoted adherents of the Party, the swallowers of slogans, the amateur spies and nosers−out of unorthodoxy
FredHayek wrote: You need to stop showing your budgetary ignorance Dog. Google baseline budgeting. The budget automatically increases every year, but with sequestration, the rate of increase slows.
Of course the rate of increase slows, because the cuts are immediate, already in place. Why do you think there have been furloughs all over the country? Hint, it was not because the rate of spending in the future is not going to increase as quickly at a future point. The cuts took place on March 2013. the budgets were cut, not increased slower as you keep claiming.
You are so gullible. They set it up to look as horrible as possible and the the press lackeys went with their talking points.
Thomas Sowell: There are no solutions, just trade-offs.
