Doge sits down with Bret Baier. Worth a watch.
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What The Federalist thought were the highlights... https://thefederalist.com/2025/03/28/6-unbelievably-scammy-federal-practices-doge-staff-reveal-in-fox-interview/
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It seems to me that the CBO pretty routinely underestimates the effects that tax breaks add to growth and underestimate the effect that tax increases slows growth.
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Those projections also don’t take into account the effect that deregulation will have on growth.
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Yes, these spending cuts do nothing without fixing FICA and then the cost of servicing our debt, but we’re looking at the Dave Ramsey debt snowball effect. Cutting spending in all of the other areas will allow us to start reducing the outstanding debt. When that number goes down you should see economic growth increase again.
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The elephant in the room is still the FICA programs, and that will need to be addressed by removing the cap, but you need to earnestly show that you are taking steps to address your profligate spending before asking the bank of the 5% to give you more money…
@LuFins-Dad said in Doge sits down with Bret Baier. Worth a watch.:
- It seems to me that the CBO pretty routinely underestimates the effects that tax breaks add to growth and underestimate the effect that tax increases slows growth.
What evidence do you have to support this claim?
- Those projections also don’t take into account the effect that deregulation will have on growth.
What evidence do you have to support this claim?
Cutting spending in all of the other areas will allow us to start reducing the outstanding debt. When that number goes down you should see economic growth increase again.
I take it you recognize the importance of "reducing outstanding debt." Let's put a pin on that and we will return to it soon enough.
- The elephant in the room is still the FICA programs, and that will need to be addressed by removing the cap, but you need to earnestly show that you are taking steps to address your profligate spending before asking the bank of the 5% to give you more money…
You argue about showing earnestness in cutting spending right after you stressed the importance of reducing debt. Where's the earnestness when you see the GOP proposing to tag on $19 Trillion of debt to finance tax cuts? You expect the people to accept losing government services and government benefits when they see the national debt go up by $19 Trillion? For what? Tax cuts for the already rich?
Srsly, reevaluate your earnestness.
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I’m not your google daddy. While the CBO estimates are good on an annual basis (+/- 1% GDP), their long range projections have always been very off. It’s well documented and has been discussed. It’s not due to any bias but the simple fact that it’s impossible to really determine how the private sector responds to that +/- 1% as it adds up over 3 or more years.
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They can’t take into account deregulation that hasn’t happened yet. They can’t only project on current policies.
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What a load of absolute bullshit. Let’s start with the tax cuts for the rich. You know that the majority of the savings from the tax cuts were for the middle class, right? https://heartland.org/publications/measuring-the-effects-of-the-republicans-tax-cuts-and-jobs-act-on-personal-income-taxes/ Meaning they will be the ones hit the hardest when the tax cuts expire. Beyond that, we’ve already established that the $19T long term projection is horseshit. The CBO can not project 10 years out worth a damn, only 12-18 months.
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I’m not your google daddy. While the CBO estimates are good on an annual basis (+/- 1% GDP), their long range projections have always been very off. It’s well documented and has been discussed. It’s not due to any bias but the simple fact that it’s impossible to really determine how the private sector responds to that +/- 1% as it adds up over 3 or more years.
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They can’t take into account deregulation that hasn’t happened yet. They can’t only project on current policies.
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What a load of absolute bullshit. Let’s start with the tax cuts for the rich. You know that the majority of the savings from the tax cuts were for the middle class, right? https://heartland.org/publications/measuring-the-effects-of-the-republicans-tax-cuts-and-jobs-act-on-personal-income-taxes/ Meaning they will be the ones hit the hardest when the tax cuts expire. Beyond that, we’ve already established that the $19T long term projection is horseshit. The CBO can not project 10 years out worth a damn, only 12-18 months.
OK, now I see why you had to start by discrediting the CBO -- because you already knew that the rest of your argument cannot withstand the projection of having $19 Trillion tagged on to the national debt per the GOP's proposal, so you have to first discredit the $19 Trillion projection.
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