Sunday :: Feb 8, 2009

Open Thread


by Mary

Bush used the recession of 2001 to push through two tax cuts to stimulate the economy:

Mr. Bush's 10-year, $1.35 trillion tax cut of 2001, considered the largest in history, contained $174 billion of cuts during its first two full years, according to Congress's Joint Committee on Taxation. The second-largest tax cut -- the 10-year, $350 billion package engineered by Mr. Bush in 2003 -- contained $231 billion in 2004 and 2005.

So in 4 years, when the economy was doing poorly, but was not truly desperate, Bush and the Republicans forced through more than $400 billion in tax cuts to address the recession. And those tax cuts cost the economy trillions over the life of those cuts.

The same Republicans (and their friends, the Blue Dogs) think that $800 billion to keep the economy from going into a real depression is too expensive and will cost future generations too much. Well, they've already saddled the future generations trillions in debt that will never be recovered. And what do they have to show for their program? A world that is dropping into an extremely deep hole because they've already spent our country's wealth on their get-rich-quick gambles.

So hundreds of thousands of Americans, and maybe millions more will be paying for the selfish and mean-spirited cuts in the current stimulus package because making sure people have food stamps or health care during this economic downturn is something we can't afford to spend. After all, we've already spent it on tax cuts for the rich.

The people who vote for cuts on the poor after they voted to enrich the already obscenely rich should be tossed into the seventh pit of hell. Would that they could experience the hell they've created for others.

Mary :: 12:00 AM :: Comments (14) :: Spotlight :: Digg It!