Quote of the Day

This one comes from the economics blogger keyneswasdrunk:

Tax cuts, can never add to the deficit. Tax cuts subtract from government revenue. Spending adds to the deficit. It’s very simple and why some people can’t grasp that I have no idea. The Federal Budget is called a “budget” for a reason.

He goes on further explain this simple truth:

It is theoretically possible for the US government too Tax every last cent out of it’s citizens and still run a deficit. But it’s not possible to run a deficit with zero spending no matter what the tax levels are. Deficits are a function of spending too much, not taxing too little.

To channel democrat strategist James Carville, “It’s the spending, stupid.”

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