The Congressional Budget Office (CBO) is out with new numbers today regarding economic growth and budget issues for the years to come. The Left's take-away of all this (illustrated here, here and here) is that the Obama/Republican tax cut is pushing the 2011 deficit to a record $1.5 trillion. Claiming that tax cuts "cost" money, is similar to someone claiming that Wall Mart - in net - is losing revenue by having low prices. The fact however is that lower prices spur growth as seen by the size and success of Wall Mart. Setting aside this common sense argument, is it worthy to note that the Fiscal Year (FY) 2011 deficit excluding the "cost" of the tax cuts, is expected to be $1.1 trillion. How bad is this? Combining all four budget deficits before Obama became president (ending with FY 2008) totaled $1.1 trillion. So spare me the crocodile tears, my fellow Dems. Here are some other CBO numbers that the tax-cut-to-blame-for-deficit reports may have missed:...(Read Full Post)