Republicans AWOL again

Well, it is now clear the American people can count on no support or ideas from Republicans in the House or, with a very few exceptions, the Senate.  Well, that isn't entirely true.  Republicans have one idea; tax cuts.  Tax cuts alone didn't do the trick last year and they didn't stimulate economic growth above what was seen in the 90s after 2001, but why let facts - or your own record - get in the way of bloviating endlessly about your faux concern for the national debt? 

These resurrected fiscal conservatives took what was supposed to be a $5 trillion surplus over the course of the first six or seven years of the new millennium and turned it into a $10 trillion national debt.  Many of the less discrete among them admitted record deficits were part of a strategy to "starve the beast" and force significant cuts in government spending by essentially bankrupting the United States.  How were they to know the economy would tank before they could skip town and blame it all on a new Democratic administration?  For that matter, who could have predicted we would  elect someone with a decidedly Keynesian approach to economic crisis?  

In addition to the failure of Republicans to take responsibility for failed policies, record deficits or their blatant hypocrisy, some are now circulating the demonstrably false claim that tax cuts lead to more, not less, government revenue.  This argument has been raised before by conservatives and repeated efforts to show beyond all doubt that 2 - 2 does not equal 4 have so far gotten nowhere. 

Here are the facts.  Tax cuts do not stimulate significant economic growth above the historical norm and they do not generate more revenue.  As with any home budget, when you cut revenue you have less money coming in.  Seems obvious and redundant doesn't it?

After tax increases in the 90s during both the Bush 1 and Clinton administrations revenue went up and economic growth was in line with that seen following tax cuts in the early eighties and during the first year of the Bush II administration.  In fact, bringing revenue in line with spending during the 90s (also done without a single Republican vote) generated the longest post war period of economic growth so far.  Following the Reagan and Bush II tax cuts revenue declined and economic growth was no larger than the historical average.  (See figure 1)

These tired and predictable conservative arguments aren't made because the facts support them though, or even because the facts could be interpreted to support them.  Conservatives argue tax cuts do all kind of seemingly miraculous things because their ideology demands it.  This is the same reason they now refuse to follow Eisenhower's advice and drop their nonsensical opposition to the New Deal.

The ball when it comes to bipartisanship is clearly in the Republican's court, but they need to come up with some better ideas to make it happen.  That said, when it comes to growing the economy as a Democrat I am fine with the fact the credit will once again go to the party of FDR in spite of our best efforts to share with the party of Hoover.