Call it the Laugher Curve

As if the Jindal speech didn’t reveal the utter intellectual and moral bankruptcy of the current crop of Republicans, along comes Matthew Yglesias to highlight more financial lunacy from the Grand Old Party: “[Republicans] are also preparing to use the ballooning deficit to renew their push for additional tax cuts.”

The reporters on the piece, Michael D. Shear and Paul Kane, might have observed that a deficit is, by definition, a shortfall between revenue and spending. Thus, it’s extremely difficult to envision circumstances under which “additional tax cuts” would prevent the deficit from ballooning. As this handy chart indicates, ballooning deficits are strongly correlated with either fighting World War II or else governance dominated by a desire for “additional tax cuts”

He provides the following helpful chart, which really says it all.

usa_historical_debt_as_a_of_gdp_from_1929_w2_12

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