It's the Spending, Stupid

Paul Kengor, American Thinker
Liberal Democrats have failed to heed the lessons of economic history, and it's killing our economy. In the 1980s, they blamed President Reagan's tax cuts for fueling deficits, when, to the contrary, Reagan's tax cuts had a tremendous stimulative effect, and his deficits were fueled by recession and spending. In fact, that's the lesson of the long history of this country, and particularly since LBJ's Great Society: deficits have been caused not by a lack of taxes but by recession and, most of all, by excessive spending.The failure to learn that lesson is again on...

Source: http://www.realclearpolitics.com/2011/08/22/it039s_the_spending_stupid_261988.html

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