Sometimes it seems as if liberal journalists just spout stupidity in hopes 1) that unsuspecting people will believer it, and 2) that nobody will challenge them. Check out CNN’s Fareed Zakaria displaying his ignorance of federal budgeting:
Now, please understand that the Bush tax cuts are the single largest part of the black hole that is the federal budget deficit. Letting them expire would take rates back to where they were under Bill Clinton, when the economy grew very robustly. And cutting the deficit without any tax increases would require massive cuts in middle class programs that would never pass.
And enjoy NewsBuster Noel Sheppard’s masterful takedown of the CNN ignoramus:
In fiscal 2000 before the Bush tax cuts, our government brought in $2.025 trillion in unified revenues while spending $1.789 trillion. Seven years later, before the recession hit, we received $2.568 trillion, a 27 percent increase. BUT, our expenditures rose to $2.729 trillion, a 53 percent rise.
What this means is that our spending grew at TWICE THE RATE as tax receipts.
And Zakaria and his ilk blame deficits on tax cuts!
