Monday, August 03, 2009

The biggest decline since the Great Depression

Republicans generally say the way to stimulate the economy is by tax cuts. Democrats want to spend money. Democrats are spending money like it grows on trees. How's it working out for them?

According to the Associated Press, "Tax receipts are on pace to drop 18 percent this year, the biggest single-year decline since the Great Depression, while the federal deficit balloons to a record $1.8 trillion." In addition, "Individual income tax receipts are down 22 percent from a year ago" and "Corporate taxes are down 57 percent."

This is economics Democrat style. I'm not an economist but this doesn't sound good.

No comments: