OMG OMG I know what we can do. Let's continue to borrow money to install more streetcar lines!!! That will increase our assets and then it'll be easier to pay off our debt. Do you all agree?
I have a better idea! Let's invade two more countries and put it all on credit card, by not putting it into the budget. And then, here's the kicker, we'll increase the spending on military, while reducing tax revenues by giving tax cuts to millionaires and billionaires. That's why we needed Quantitative Easing in the first place.
Nice try anonymous liberal tax-hiker- Revenue to the federal government increased dramatically following the Bush tax cuts. Take your failed class warfare philosophies back to HuffPost where you don't have to worry about being proven wrong.http://www.washingtontimes.com/news/2010/feb/03/bush-tax-cuts-boosted-federal-revenue/"But the real jolt for tax-cutting opponents was that the 03 Bush tax cuts also generated a MASSIVE INCREASE IN FEDERAL TAX RECEIPTS. From 2004 to 2007, federal tax revenues INCREASED BY $785 BILLION, the largest four-year increase in American history. According to the Treasury Department, individual and corporate income tax receipts were up 40 percent in the three years following the Bush tax cuts. And (bonus) the rich paid an even higher percentage of the total tax burden than they had at any time in at least the previous 40 years. This was news to theNew York Times, whose astonished editorial board could only describe the gains as a "surprise windfall."
We follow the "living room" rule. Exhibit the same courtesy you would show guests in your home.