Debunking common liberal myths about the economy

The Wall Street Journal has a good article that interjects reality in order to debunk some common leftist myths.

The problem is massive, uncontrolled government spending, not the myth of lost tax revenue.
The myths they analyze and debunk are:

• The Bush tax cuts wiped out last decade’s budget surpluses.
• The next decade’s deficits are the result of the previous administration’s profligacy
• Declining revenues are driving future deficits