Georgie Lies Again

Well, Georgie signed his tax cut extensions into law yesterday. Bush said his new tax cuts meant more revenue for the U.S. Treasury. THIS IS A BIG FAT LIE!!! Tax revenues did grow in 2005, but so did the population of workers. In other words, it would have grown even with no tax cuts. But it did not grow enough to offset the losses from Georgie's tax cuts. It is expected that these cuts will cost the Treasury about $70 billion over the next five years.

N. Gregory Mankiw, head of Georgie's Council of Economic Advisers from 2003 to 2005, said up to 50% of the tax cuts would return to the Treasury as new revenues. But this still means the Treasury has a net revenue loss. The head of the Council of Economic Advisers from 2001 to 2002, Douglas Holtz-Eakin, agreed that the tax cuts would result in a net revenue loss. Even Georgie's own advisors believe he is fudging the truth!

I don't know why this comes as a surprise to anyone. Georgie has always tried to help his rich friends at the expense of ordinary Americans. Guess who gets to make up the deficit, middle-class? That's right. You do. Aren't you glad now that you voted for this moron?



NOTE - The Gonzo Muckraker is reporting that Georgie's support has dropped below 50% in the state of Texas. This is incredible. As you know, Texas is the reddest of red states. The wheels are really coming off of Georgie's wagon.