Tuesday, May 28, 2013

Try this, will you?


What are the government haters to do now? The cuts made in public spending through "sequestration," combined with a booming stock market generating lots of capital gains tax revenues from the wealthy, are causing an incredible shrinking budget deficit. The nonpartisan Congressional Budget Office now estimates that the deficit for this fiscal year will fall to about $642 billion, or 4 percent of the total economy, and could shrink to as little as 2.1 percent of the GDP by 2015. (When Bill Clinton came to office in 1992, the deficit was 5 percent of GDP.) A deficit of 2.1 percent would, according to most analysts, be easily sustainable over the long run.

This has put Ted Cruz, Marco Rubio, Mike Lee, Rand Paul, Paul Ryan, and other regressives into a bind because they can no longer hide behind the deficit as reason for demanding even more budget cuts in the next showdown over raising the debt limit. In truth, they're not interested in "fiscal responsibility" and never have been. Their goal, as their guru, Grover Norquist has put it, is to shrink government to the point where it can be "drowned in a bathtub."
Robert Reich

KNOW YOUR HISTORY: Memorial Day was started by former slaves on May, 1, 1865 in Charleston, SC to honor 257 dead Union Soldiers who had been buried in a mass grave in a Confederate prison camp. They dug up the bodies and worked for 2 weeks to give them a proper burial as gratitude for fighting for their freedom. They then held a parade of 10,000 people led by 2,800 Black children where they marched, sang and celebrated.

Thanks to Abstrakt Goldsmith for this nugget of history that most of us never learned in school.
KNOW YOUR HISTORY: Memorial Day was started by former slaves on May, 1, 1865 in Charleston, SC to honor 257 dead Union Soldiers who had been buried in a mass grave in a Confederate prison camp. They dug up the bodies and worked for 2 weeks to give them a proper burial as gratitude for fighting for their freedom. They then held a parade of 10,000 people led by 2,800 Black children where they marched, sang and celebrated.

Thanks to Abstrakt Goldsmith for this nugget of history that most of us never learned in school.

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