When someone presents an idea or point of view on a topic one should consider their credentials. What have they done in their life? Anything productive? Or are they merely politicians or businessmen. For instance Donald trump is a business man (land lord), amongst other things.
The Economists' statement opposing the Bush tax cuts was a statement signed by roughly 450 economists, including fourteen of the twenty-four American Nobel Prize laureates alive at the time, in February 2003 who urged the U.S. President George W. Bush not to enact the 2003 tax cuts; seeking and sought to gather public support for the position. The statement was printed as a full-page ad in The New York Times and released to the public through the Economic Policy Institute. According to the statement, the 450 plus economists who signed the statement believe that the 2003 Bush tax cuts will increase inequality and the budget deficit, decreasing the ability of the U.S. government to fund essential services, while failing to produce economic growth.
"Passing these tax cuts will worsen the long-term budget outlook, adding to the nation’s projected chronic deficits. This fiscal deterioration will reduce the capacity of the government to finance Social Security and Medicare benefits as well as investments in schools, health, infrastructure, and basic research. Moreover, the proposed tax cuts will generate further inequalities in after-tax income and will hinder future fiscal policy.
Maybe these economists were stupid, maybe they had an axe to grind, maybe they were right, maybe we should listen to Donald Trump? After all he is a job creator.
Since 1940 no republican presidential administration has had a balanced spending budget.
Dick Cheney. Remember that guy who declared “deficits don’t matter”? That was the old Dick Cheney. The new Dick Cheney wants President Obama to act faster to clean up the mess he and George W. Bush left behind.
For lack of a better word, this is … funny. Cheney pushed massive tax breaks for the wealthy, and didn’t even try to pay for them. He pushed for multiple wars, and didn’t even try to pay for them, either. He supported Medicare expansion and No Child Left Behind, and like the rest of his agenda, Cheney just threw the costs onto the national credit card, running up a bill for some future president to pay.
But now he’s worried about the deficit.
Let’s note a few details that Dick Cheney may not be aware of. For example, Cheney inherited a large surplus and turned it into a massive deficit. Cheney took a budget that was on track to eliminate the national debt altogether and instead added nearly $5 trillion to it in just eight years. The day Barack Obama took the oath of office, he found a $1.3 trillion deficit sitting on his desk — a little gift from Cheney and his team.