The Obama Shift


The Obama Shift.

“Plus, I’ve said it before and I’ll say it again: the “Bush tax cuts” did not demolish this four-decade trend. In fact, they put things back on trend. In 2007, or four years after Bush’s second round of tax cuts, federal revenues were 18.5% of GDP (above trend), and spending was 19.7% of GDP (below trend). Everything I’m saying can be verified with the OMB’s own numbers. You should pray for the return of 2007.”

The liberal view is that the tax cuts added to the debt; they ignore that it was paid for with the growth it created.

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