Quote:
Originally Posted by JohnR
Curious - I don't think he'll get those deep cuts - just a start point for negotiations.
At what point do the tax cuts stimulate the economy enough to offset the cuts?
I see no real spending cuts attached to this
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There are no substantive cuts proposed yet, which makes this hypocrisy of the first order. I agree it won't pass as it stands now.
I heard a supporter of the plan (from Congress) on Squawk Box this AM (on XM radio, so I couldn't see who it was) basically argue that yes, it was going to add to the deficit, but it would jump start the economy for the next generation.
The last round of this had a small bump in the economy, which was a positive, but coupled with two wars and no significant cuts it added to the deficit significantly. What will be different this time? It will likely involve costs for some conflict or interaction with the Norks in conjunction with the cuts. I don't think we will see significant repatriation of funds, even at 15%.
Either way the 9% growth I heard needed to offset the cuts aren't even a pipe dream. if we get over 3% growth that will be pretty damn good....