MyHeritage.org

brings you Myth Busters

Liberal Myth

We don’t need to cut spending. We need to raise taxes.

Get the debunking of this and other liberal myths and distortions at MyHeritage.org, a Web site for members and supporters of The Heritage Foundation.

The Facts

In the face of ever-increasing social spending that threatens to bankrupt our country, cuts are necessary to maintain balanced books.

• Deficits are caused by uncontrolled federal spending.
• Even a modicum of fiscal discipline –holding spending increases to 4 percent annually–would cut the federal deficit by more than 50 percent in just five years.

Spending growth is out of control.

• Federal spending has grown twice a s fast under President Bush as under President Clinton–up 33 percent since 2001.
• Federal spending neared $22,000 per household in 2005–the highest level (adjusted for inflation) since World War II.
• Without entitlement reforms, federal spending could rocket up to more than 70 percent of GDP–making America’s economy more government-run than any European country’s.

Real cuts are needed.

• Congress can make a dent in the budget deficit only with real cuts in spending.
• The budget reconciliation bill signed earlier this year would only cut the growth in spending onsocial programs to 38 percent over five years instead of 39 percent over five years.