{"id":11523,"date":"2011-07-31T15:25:38","date_gmt":"2011-07-31T22:25:38","guid":{"rendered":"http:\/\/www.dailylife.barrowroad.com\/?p=11523"},"modified":"2011-07-31T15:26:17","modified_gmt":"2011-07-31T22:26:17","slug":"whats-the-problem-revenues-or-spending","status":"publish","type":"post","link":"http:\/\/www.dailylife.barrowroad.com\/?p=11523","title":{"rendered":"What’s the problem: Revenues or Spending?"},"content":{"rendered":"

An interesting article on the current situation of Government income and outgo.<\/p>\n

…<\/p>\n

“In fifty years, we have tripled<\/em> overall federal revenue, and prior to the current recession\/stagnation we had quadrupled<\/em> it.\u00c2\u00a0 The current trough from the 2007 peak resulted from the fall in economic activity, not from tax cuts or any other intervention.\u00c2\u00a0 It\u00e2\u20ac\u2122s similar to what happened in the prior trough, when the 2000-1 recession and the 9\/11 attacks cut economic activity through 2003. <\/a><\/p>\n

<\/a><\/p>\n

For that matter, look what happened to federal revenue after the much-maligned Bush tax cuts took full effect in 2003.\u00c2\u00a0 Economic activity expanded rapidly \u00e2\u20ac\u201d and so did federal revenues.\u00c2\u00a0 In fact, the economy during that period boomed, and receipts from both personal and corporate taxes peaked as a result.<\/a>”<\/p>\n

…<\/p>\n

The second chart explains what we have now:\u00c2\u00a0 spending continued to grow, even when revenues declined…read it all!<\/p>\n

…<\/p>\n

~Curtis in \/\\\/\\onTana! {!-{><\/p>\n","protected":false},"excerpt":{"rendered":"

An interesting article on the current situation of Government income and outgo. … “In fifty years, we have tripled overall federal revenue, and prior to the current recession\/stagnation we had quadrupled it.\u00c2\u00a0 The current trough from the 2007 peak resulted from the fall in economic activity, not from tax cuts or any other intervention.\u00c2\u00a0 It\u00e2\u20ac\u2122s […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-11523","post","type-post","status-publish","format-standard","hentry","category-politics"],"_links":{"self":[{"href":"http:\/\/www.dailylife.barrowroad.com\/index.php?rest_route=\/wp\/v2\/posts\/11523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.dailylife.barrowroad.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.dailylife.barrowroad.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.dailylife.barrowroad.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.dailylife.barrowroad.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11523"}],"version-history":[{"count":5,"href":"http:\/\/www.dailylife.barrowroad.com\/index.php?rest_route=\/wp\/v2\/posts\/11523\/revisions"}],"predecessor-version":[{"id":11528,"href":"http:\/\/www.dailylife.barrowroad.com\/index.php?rest_route=\/wp\/v2\/posts\/11523\/revisions\/11528"}],"wp:attachment":[{"href":"http:\/\/www.dailylife.barrowroad.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.dailylife.barrowroad.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11523"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.dailylife.barrowroad.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}