Tuesday, August 3, 2010

Deficit Discourse (2) ~ A Disaster Bequeathed to Us by BushCo

This graphic appeared at HuffPost this morning. It is not as useful as the very similar graphic I posted on here some months ago. This one is not quite as clear because it requires viewers to start at the upper left hand corner and work downward and outward - a lesson in how not to design an informative graphic. It nonetheless makes an important point.

Conservatives face a predicament. It was bequeathed to them by George Bush and his minions. They (conservatives) very much want to be deficit hawks and keep a keen eye out for government spending - especially when such spending threatens to benefit the less well off. Yet the clearest, simplest way to cut the deficit is to (1) rescind tax cuts Bush bestowed on the wealthiest Americans and (2) cut our losses and end the pointless wars he started. In other words, it is impossible to be a deficit hawk, a foreign policy hawk and a patron to the wealthy all at the same time.
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P.S.: And, of course, it is crucial to recognize - as the folks at HuffPost point out, that the dollar for dollar stimulating effect of tax cuts for the wealthy is significantly lower that what we get from other forms of government spending.