Sunday, January 7, 2007


I am not quite ready to hit the blogging mill full speed again but I had to note that like Samwick, I am vexed by the following statement.

It is also a fact that our tax cuts have fueled robust economic growth and record revenues.

Not only is this not supported by any reasonable take on the economics - that is that cut the increase in tax DEDUCTIONS that were the core of the Bush tax cuts could have a strong enough supply side effect to increase revenue - but moreover this is of a general class of "This is the most in history" type statements which sound big but mean nothing.

Today more people are walking the earth than ever in its history!

Today more people are using the Internet than ever before!

Over the next year record numbers of people will experience climate change!

Well of course all of these are true. Except for down turns now and then we should always be experiencing record revenues because the country is growing and our currency is inflating.

Upon seeing your nine year-old neice for the first time in a few years would you exclaim "My gosh Jenny you are taller than you have ever been in your entire life!"