Reagan cut taxes, and borrowed to bridge the gap.
GHW Bush promised to cut taxes, recession hit and he raised taxes. So borrowing slowed.
Clinton Raised taxes and balanced the books.
GW Bush cut taxes and went on a huge spending spree, paid for by borrowing.
Obama is in the toilet, put there by the lack of Government control on Gambling. Call it what you like, we know what it was.
Governments should spend/invest on infrastructure to go forward. Moon project shows what can be achieved. Mars will do the same. So to go further what's needed?
Scientists, engineers, research, in fields of tomorrow. So spending on education is an absolute must. No bright kid able to perform in disciplines required for tomorrow should be paying to go to college. Fuck giving athletes a free education, we don't need more line backers.
Also deprived areas. If we are to break the cycle of unemployment and all else that goes on in areas of of need. We need to educate the cycle out of them.
Work, no person should be under utilised. Even the unemployed can give to society.
Health. A healthy nation is a strong nation.
Infrastructure of the world around you. The Gulf spill happened because of a lack of inspectors. The New Orleans disaster was down to poor levies. Or. The Hoover Dam provide power for public and private utilities in Nevada, Arizona, and California. Plus acts as a reservoir.
Government spending. So many different takes on it I went here.
http://www.cbo.gov/publication/42636
See what's wrong? The US is spending more than it's earning and borrowing to make up the gap. It like so many places are running on debt. Anyone who thinks cutting taxes and not cutting spending, needs to butt out. Anyone who thinks cutting taxes stimulates growth like it did before we imported more than we exported, needs to butt out as well. Because they have no proof that works today.
Here's a tax cut that will reduce spending. Farm Subsidies.
Quote:
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The United States currently pays around $20 billion per year to farmers in direct subsidies as "farm income stabilization"
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So import cheaper food from abroad or pass on the extra cost to consumers?
Stop letting greed rule your thinking.