Herein where Con. Bilbray attempts to deny reality, returning the Tax Base to where it was during the Clinton Administration (as it was set before Republicans took over Congress in 1994) would not kill the Economy and would not stop job growth.
Over again the Republican Party keeps trying to cut taxes on their primary financial supporters (Industry and their Shareholders) trying to tell us that the hello water raining down on our heads is Rain!
MATTHEWS: Well there he is, Congressman Bilbray, your leader, your whip is now admitting that if you cut taxes, you’re raising the deficit. ... Why would he say something like that that runs against your orthodoxy?
BILBRAY: The fact is, look, Chris, you can’t get around the fact –
MATTHEWS: Well the fact is that he just said that. Why did he just say that cutting taxes at this point is going to yield a lower revenue and therefore a bigger deficit? What he just said what contradicts to what you just said.
BILBRAY: We’re not even talking about cutting about taxes. We’re talking about not allowing an increase –
MATTHEWS: — continuing the Bush tax cuts is what we’re talking about. And that’s what he was talking about.
BILBRAY: And that is maintaining the status quo –
MATTHEWS: — Are you in disagreement with Eric Cantor? Just tell me you disagree with him and we’ll be on the same page.
BILBRAY: I am disagreement with anybody that thinks we can get ourselves out of this mess by raising more taxes on the American people.
Contrary to Billbray's claim that the Republicans "Helped" cut the Deficit during the 90's the truth is that they attempted to Cut MEDICARE (below the Cost of Living Index) while implementing massive Tax Cuts that would have shot the Deficit up through the Roof and it was only because Bill Clinton was willing to call their bluff and shutdown the entire government - TWICE - that they were prevented from doing what George W. Bush did when he came into office - implement massive tax cuts and CUT Medicare (for which they used Reconciliation).
Republicans wanted a 7-Year Balanced Budget, but in reality the Budget was Balanced within 5 years because they used Clinton's strategy which was to ride the economic growth rather than spend everything via tax cuts in order to land on a specific date.
Bilbray - like other Republicans - suggests we rescind the unspent Stimulus and TARP funds, but most of that would lead to the layoff of Teachers, Cops and Firemen in various states and a Tax Increase on Small Businesses. It's completely opposite to everything he's claiming he supports. But then that's why they filibustered the Unemployement Extension and the latest Jobs Bill.
The fact is that Clinton didn't cut taxes he raised them on the Rich by 3% and it didn't hurt the economy, we had the largest and strongest period of economic growth After he did that. The majority if not all of the Bush Tax Cuts need to be rescinded permanently - returning us back to Clinton Era Tax Levels - or this country WILL NEVER get to a Balanced Budget again.
And as was shown on Countdown Last Night - not even the Architect and Implementor of the Reagan Republican Trickle Down Theory is willing to keep up the facade any longer.
But then again maybe none of this has to do with the Deficit or the Budget but really has to do with Rank Partisan Bigotry as (soon to be former Republican Rep) Bob Inglis Admits.
Inglis said that one of the reasons for his defeat was because he refused to demagogue like other conservatives in the House. In one instance during the primary, Inglis was chastised simply for not calling President Obama a “socialist.” He also noted that many of the GOPs criticisms regarding Obama’s response to the economic crisis were motivated by racism:
Instead, he remarks, his party turned toward demagoguery. Inglis lists the examples: falsely claiming Obama’s health care overhaul included “death panels,” raising questions about Obama’s birthplace, calling the president a socialist, and maintaining that the Community Reinvestment Act was a major factor of the financial meltdown. “CRA,” Inglis says, “has been around for decades. How could it suddenly create this problem? You see how that has other things worked into it?” Racism? “Yes,” Inglis says.
This might be why even John McCain has openly said he supports having hearings to revoke the Birthright Citizenship granted by the 14th Amendment - might that be because one of our President's parents wasn't a citizen? Also interesting since McCain himself was born in Panama. Might it have something to do with McCain favored "Danged Fence" Sherrif spouting Militia Rhetoric and appearing on a White Supremacist Radio Show?
Everything the Republicans are doing is driving us full-on back into the ditch that Bush crashed us into as Paul Krugman notes - they're Addicted to Bush
The truth, however, is that the only problem Republicans ever had with George W. Bush was his low approval rating. They always loved his policies and his governing style — and they want them back. In recent weeks, G.O.P. leaders have come out for a complete return to the Bush agenda, including tax breaks for the rich and financial deregulation. They’ve even resurrected the plan to cut future Social Security benefits.
Mmm Mm, give me some of those Good Ole Time Busisms.
As I've noted before Krugman isn't exaggerating, the Republican Battle Plan as published by Rep. Paul Ryan according to the CBO would...
- Raise Taxes on the Poor and Middle Class by Eliminating nearly ALL Tax Deductions, Offsets and Credits.
- Lower Taxes on the Rich by yet another 12-15%
- Raise Social Security Taxes, while Decreasing Benefits for those under 55 by "Personalizing" up to 1/3rd of it on the Stock Market
- Increase the Eligibility Age for Medicare to 69 and Cut Benefits
- Replace Medicaid with Medical Savings Accounts
- Completely Ignore Climate Change, Stall Green Energy Policies, Environmental Concerns, Safety and Health Regulations
This is what these people want to do, and why the scream and cry so loud. This is what we need to remember every time one of them opens their mouths, they're out to destroy the Middle Class, Period.