"Steven P. McNicoll" wrote in message
ink.net...

"devil" wrote in message
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In recent history, fiscal irresponsibility, profligatr spending and tax
cuts paid out of deficit financing have been the hallmark of Republicans.
From Reagan to Bush II.


Tax cuts are not "paid", they generate revenue.

I disagree. They are paid out of deficit financing in the sense that the money
that they have returned to the taxpayer gets spent anyway even though the
government no longer has it by means of bank borrowings. In all, that is what
is called deficit financing, and is what the Republicans used to deplore when
they didn't have control of the government. It was a terrible political sin
when the Democrats were doing it, but is now palatable since the Republicans are
the ones doing it.

When you get right down to it, "tax and spend" which Republicans used to deride,
is a lot less fiscally irresponsible than "borrow and spend", which merely
shifts the repayment burden to future generations, who weren't even around when
the spending decisions were made.

George Z.