RE: Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases

Lew. f you want people to read your cut and paste spew, you at least have to use a credicble source.
 

> Date: Tue, 1 Jan 2013 04:03:29 -0800
> Subject: Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases
> From: lewcoop@aol.com
> To: opendebateforum@googlegroups.com
>
> Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases
>
>
> by Matthew Boyle31 Dec 2012
> biggovernment.com
>
> According to the Congressional Budget Office, the last-minute fiscal
> cliff deal reached by congressional leaders and President Barack Obama
> cuts only $15 billion in spending while increasing tax revenues by
> $620 billion—a 41:1 ratio of tax increases to spending cuts.
>
> When Presidents Ronald Reagan and George H.W. Bush increased taxes in
> return for spending cuts—cuts that never ultimately came—they did so
> at ratios of 3:1 and 2:1.
>
> "In 1982, President Reagan was promised $3 in spending cuts for every
> $1 in tax hikes," Americans for Tax Reform says of those two
> incidents. "The tax hikes went through, but the spending cuts did not
> materialize. President Reagan later said that signing onto this deal
> was the biggest mistake of his presidency.
>
> "In 1990, President George H.W. Bush agreed to $2 in spending cuts for
> every $1 in tax hikes. The tax hikes went through, and we are still
> paying them today. Not a single penny of the promised spending cuts
> actually happened."
>
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