High spending, tax cutting, increasing deficits: neo-Republicans have become another free spending Democrat party. Classical economic policies have made way for neo-Keynesian economic policies. Cutting taxes and increasing Budget fiscal deficits is something any competent economist would avoid at all costs.
Tax cuts do not always pay for themselves. Increasing government deficits are clear evidence the Bush tax cuts have failed. Cut taxes only when the government can afford it and maintain a balanced Budget. Deficits need to be reduced through reduction in government spending. Cutting taxes when the government is in deficit will only increase Budget fiscal deficits.
Huge shift to the left on economic policy. Fiscal conservative economic policies abandoned by the neo-Republicans mismanagement of the American economy. Huge deficits and growing sovereign debt. Obama and the US Federal reserve have continued the neo-Republican agenda.
Increase government spending only when there is a recession, increase deficits during bad economic times. Decrease government spending during economic expansion stages of economic/business cycle: reduce deficits during good times.
Most politicians are not competent economists and they regularly ignore advice from leading economic/financial advisers.
