The New Math

There’s a lot of talk about debt and deficits these days, but we’re not the first.

“Higher taxes would not mean lower deficits. If they did, how would we explain tax revenues more than doubled just since 1976, yet in that same six-year period we ran the largest series of deficits in our history? In 1980 tax revenues increased by $54 billion, and in 1980 we had one of our all-time biggest deficits.”

Ronald Reagan January 26, 1982 First State Of The Union speech

No matter how much you might reject the law of gravity, it still exists. There’s something we can learn from that.

Advertisements

Leave a comment

Filed under Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s