Toro
Diamond Member
When is the last time Congress raised revenues by raising taxes and didn't see that as license to increase spending? That is the fallacy in your statement. A balanced budget that does not include spending cuts only means higher and higher taxes for all of us and huge growth of the misery index. So lets get the spending cuts first and the balanced budget. Then we can carefully ease into increased revenues if that should be necessary. (I suspect I won't be.)
Both Bill Clinton and George HW Bush raised taxes in the late 80s and early 90s, and spending to GDP fell. George W Bush cut taxes and spending to GDP rose.
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true but the deal as written never materialized , yes he got 'savings', but not what he supposedly shook hands on, they never do, and Herbert Bush took it in the shorts for, well, not what he was promised.
without an amendment any future congresses as has happened in past will just ignore what was done before them. the dems will tell us granny needs more medicare/medicaid (and how would this effect obama care a 3.5(or 8)% tax increase btw on the RICH already on the offing) and that will be that. Heartstrings always turn the tables......
I'm not trying to ascribe political points to any one side. In fact, I would probably give the Republican House more credit than Clinton. And I would certainly give much credit to Bush I. We wouldn't have had a surplus had Bush I not raised taxes. Having said that, all I'm trying to do is show that simply because taxes go up does not mean politicians spend it.