Quote:
Originally Posted by detbuch
Isn't that the beauty of tax revenue shortfalls? There is no money to fund bloated spending. Doesn't this argue for spending cuts rather than tax increases as the method to reduce the deficit? Raising taxes will just pay for bloated spending. Parkinson's second law--expenditures always rise to meet income.
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I think this is true to a point, but am not sure the problem of the national debt can be solved with spending cuts alone over the next decade. This certainly seemed to be the opinion of the debt commission who know a hell of a lot more about this than I do (one would hope).
That being said, I do see wisdom in the Conservative idea that if the money is there it will get spent. This is as true as extra cash in your pocket or that tub of ice cream in the freezer (i.e. human nature). The key is restraint, and why I think most people don't trust either party, they're looking for responsibility which has been in short supply regardless of who's in charge of the pocket book.
-spence