| Kantor said: A few people are to blame here 1) S&P for that awful calculation error 2) House Republicans for refusing to let the tax cuts expire 3) George W Bush for invading Iraq 4) Whoever the hell had the stupid idea of separating debt ceiling votes from the Budget (the S&P report mentioned this) I'm trying to fault the Democrats at least slightly, but I can't. They were excessively resistant to cuts, but nowhere near as bad as the Republicans with regards to tax increases. |
Well you could blame the democrats for also invading Iraq... since a bunch of them voted for it.
Aside from that, while tax raises were needed at some point, letting the bush tax cut on the rich wouldn't of brought in nearly enough money to avoid this. We'd still be about 3.5 trillion short... and honestly, a lot more then that because we'd have to cut more once the new CBO projections cut out, and even then we'd still be far from not running up more debt. (Like 10 trillion in more cuts/raisesor so.)
Outside of that, the only way to raise revenue is to raise taxes on the poor and middleclass, when the nation sucks economically.
Hence why having far more cuts then tax increases pretty much had/has to happen.
something like 5-1 cutting to spending... which is likely why tax increases never made it on the table.
