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Fiscal Cliff Notes: Part II

Kibitzer Wrote: Dec 06, 2012 9:41 PM
"Can someone please explain the revenue dip after the Bush tax cuts?" Basically it is due to the inertia of the economy. That means that it takes time for economic activity to build after any government action that creates a more favorable economic climate.

Editor's Note: This column is part II in a series. Part I can be found here.

One of the big advantages that President Obama has, as he plays "chicken" with the Congressional Republicans along the "fiscal cliff," is that Obama is a master of the plausible lie, which will never be exposed by the mainstream media-- nor, apparently, by the Republicans.

A key lie that has been repeated over and over, largely unanswered, is that President Bush's "tax cuts for the rich" cost the government so much lost tax revenue that this added to the budget deficit-- so...