re: #445 b.d.

Debt to skyrocket: pic.twitter.com/GSpPnLm6Ca

— Heritage Foundation (@Heritage) February 14, 2014

Heritage posts graphs without a sense of irony.

They’re busy complaining/warning that debt will exceed GDP by 2028 and then continue into the stratosphere.

What are they missing from that equation. Oh yeah, the fact that the tax policy they’ve championed has been a big part of it. Despite high tax rates after WWII, US economic growth was unparalleled, and it brought down the deficit. Who expanded the deficit by percentage terms in a non war scenario? That’d be Reagan, who octupled the deficit of Carter. Bush tripled the deficit on his watch, but somehow Heritage ignores all that to focus on the so-called death spiral that doesn’t take into account any changes to tax policy that might rationalize things and improve the economy at the same time.