Pretty goofy posting, if you ask me.

"Don Klipstein" wrote in message
...
In article , HeyBub wrote:
Don Homuth wrote:
There were no Tax Cuts -- only Tax Deferrals.

Agreed. As long as the Democrats refuse to make the cuts permanent.

There is no such thing as a permanent tax cut if spending is not cut
enough to keep the national dept from outpacing economic growth.

If the purpose of the debt is to create an illusion, well, that's bad.

In general, though, debt is good, so long as the debt is paid off in
cheaper
dollars, or the debt is incurred as an investment which yields a greater
return than the accumulated interest, or furthers a compelling social
goal.

The current national debt, at about 65% of GDP, is about half its
historical
maximum. In fact, GDP has increased about five times faster than the
national debt.

Are you counting the WWII high in national debt, followed by a top tax
bracket of 90%?

The debt grew faster than GDP during the Carter, Reagan, and Bush I
administrations, grew less than GDP did in the fiscal years starting in
Clinton's first term, shrank in the set of 4 fiscal years that started
during Clinton's second term, and grew at a pace mostly outrunning GDP
growth starting with Bush II's first big deficit year.
When we have annual deficits around 6-9% of the national debt (which we
have had for about 3 years so far), the national debt is growing that
fast.
Most of the past 3 years non-inflation-adjusted GDP has grown at the
bottom end of this range. Most of the past 3 years the national debt has
grown faster than GDP did.

If the national debt continues to outpace GDP growth, we will eventually
need tax hikes or spending cuts unlike any since Eisenhower.

- Don Klipstein )