[Dragaera] Off-Topic Discussion: Occupy Wall Street

[Howard Brazee]

On Dec 15, 2011, at 9:42 AM, Philip Hart wrote:

> Like we had under Clinton - well, actually that was a surplus.  Which was a bad thing, per Greenspan et al.  And of course that was before two wars costing multiple trillions of dollars.

Borrowing for a war can be a necessary thing.    We borrowed for WWII.   But that war was short, and our war against terrorists isn't likely to end any time soon.    Forgetting the other costs and any possible benefits, borrowing that much for everlasting wars has had the obvious, predictable result on our economy.

There are graphs on the Internet that have matched the deficit with Supply Side tax cuts.    These graphs are pretty consistent in showing that cutting taxes on the wealthy increases the debt.   Hmm, I wonder if there is a similar study showing how many jobs were created.