CBO Study: Without tax cuts, the budget would be balanced

[swag]

http://www.cbpp.org/8-8-06bud.htm

. . .

CBO’s deficit estimate of $260 billion in 2006 illustrates one other reality, as well. Based on Joint Committee on Taxation estimates, the tax cuts enacted since January 2001 are costing a total of $258 billion in 2006 (including the increased interest costs of the debt that result from the borrowing that is required to cover the lost revenues). This means that even with the spending for the wars in Iraq and Afghanistan and the response to Hurricane Katrina, the federal budget would essentially be in balance this year if the tax cuts had not been enacted, or if they had been offset by either increases in other taxes or cuts in programs, as would have been required under the Pay-As-You-Go rules that tax-cut proponents first ignored and then allowed to expire.

[Hawkeye-X]

1. Someone throw out the "No Shit, Sherlock" sign

and make this CBO study 1000000% bigger so Chimp can comprehend it.

[hatrack]

4. Yep - file under "D" for "Duh!"

:eyes:

[jpkenny]

2. Now this should really be discussed by the MSM. HUGE!! nt

[PA Democrat]

3. So, just imagine what could have been accomplished without the

tax cuts AND without Bush's war. Universal health care? Rebuilding New Orleans and the Gulf Coast? REAL homeland security?

[swag]

5. Jesus, that's sad to contemplate. All the squandered potential.