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Single Column Accounting

The Skeptical Optimist brings the economic debate down to simple terms in this piece.  Again, taking the left’s accounting system to task (their “deficit only” single column accounting focus), he correctly explains that increased growth will lead to increased federal revenues which, if spending is controlled, handle all deficit/debt issues.


We already KNOW this to be true.  Our government spent 3 times as much as Reagan did, yet the deficit has been about the same (with the exception of the latest Congress, who have been spending wildly) or even lower.


Time and time again we prove that when taxes are cut, the economy grows and when the economy grows federal receipts increase.  So yes boys and girls, cutting taxes DOES increase government revenues.


We should not be focused only debt and deficits.  We should be focused on assets as well.  In accounting, assets equals liabilities and owner’s equity.  What the left does is focus ONLY on liabilities.


Single column accounting in other words. 


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