John Irons's Blog

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Economic News, Data and Analysis

It’s your money.

So, I’m sitting here listening to the Senate’s debate on PayGo, and am not happy (to say the least).
The Senate’s Budget resolution (as well as the president’s proposal and the House) contains PayGo that applies to new spending but not taxes.
From the people supporitng the one-sided PayGo, there lots’s of people talking about how 1) tax cuts spur job creation and 2) how “it’s your money, and you should keep more of it” rhetoric.
1) While there are problems, the American economy is dynamic and vibrant enough that business doesn’t need to beg for a tax cut a year to survive. Congress needs to realize that the economy/jobs line is wearing a bit thin.
2) It’s OUR money, and WE get to decide how to spend it. If we want to spend it on education, scientific research, the national highway system, national parks, and health care for low-income Americans, that is OUR choice.
The PayGo from the 90’s worked.
This budget is a sham, top to bottom.

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Filed under: Economics

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