Actually both David Stockman and the AlterNet are right. We do have a revenue problem thats one of the reasons for our Budget Deficit. We cut taxes in the last decade and borrowed all the money to pay for them. We borrowed way too much money and put that on our National Debt Card. Which represents currently over 2T$ of our 14T$ National Debt. But the AlterNet is also wrong, we clearly have a spending problem as well. Were they not conscience when we went to war with Afghanistan and Iraq eight and nine years ago. Which represents another 2T$ that we borrowed to pay for that as well. How about the 500B$ we paid for Medicare Advantage in late 2003. Or the hundreds of billions of dollars we paid for after Hurricane Katrina. This also money that the Federal Government has spent to pay for it operations. This is all Government Spending, the Bush Tax Cuts represent around 20% of our National Debt. When Barack Obama became President two years ago, the Federal Government was spending 21% of our GDP on its operations. Two years later to address the “Great Recession”, we are now spending 25% of our GDP on the Federal Government. This was all borrowed money. So its very difficult to make a credible argument that the Federal Government doesn’t have a spending problem as well.
If you want to raise taxes on High Earners to pay down the deficit and debt. I’m with you but thats as far as I will go along with ending Corporate Welfare and Agriculture Welfare. But I will never be in favor of increasing taxes on the Middle Class especially when they are struggling to pay down the deficit or anything else. If anything these people need their taxes reduced. Its great to hear people especially on the Far Left. Who generally don’t view the deficit and debt as a serious issue. Mainly I believe because that generally means cutting Government Spending. And that we need to increase taxes on everyone because of the deficit. Fine thats a credible argument, as long as you believe that the extra revenue is needed and should be used to pay down the deficit. If your looking to raise taxes on everyone including the Middle Class. As a way for government to spend more money. Then its not the deficit that your worried about, but how to raise more money to spend. And your interest is in Tax and Spend.
Its great to talk about the deficit and debt and look for ways to deal with the problem. But its another thing to be looking for ways to raise revenue and use the deficit and debt as your justification. When your actually just interested in Tax and Spending. Because thats just dishonest, if you want to Tax and Spend, be honest about it. And then you’ll have more credibility.