Would you rather have the Bush economy or the Clinton economy?
The Hill:
Republican leaders in the Senate and House will not agree to tax increases in the guise of reform measures, according to a prominent conservative advocate for lower taxes.
Conservatives have grown increasingly worried that Republicans in Congress may accept a tax hike as part of a broader deal to reduce discretionary and entitlement spending.
But Senate Republican Leader Mitch McConnell (R-Ky.) and House Speaker John Boehner (R-Ohio) have pledged to Americans for Tax Reform president Grover Norquist they will not support any deficit reduction package that increases taxes.
I know it's fashionable to say that spending is the reason our deficits have exploded, but the truth is that the Bush tax cuts are biggest reason deficits have increased—and it's not even close. Other than TARP and the slowdown in GDP growth in the last year of the Bush presidency, the Bush tax cuts account for virtually all of the debt accumulated during his presidency. And if you aren't willing to talk about getting rid of all of the Bush tax cuts and returning to Clinton-era tax rates, you aren't serious about deficit reduction.