Talking Points Memo: President Barack Obama- 'They Have Tried To Sell Us This Trickle-Down, Tax-Cut Fairy Dust Before'

Source:Talking Points Memo- President Barack H. Obama (Democrat, Illinois) apparently talking about Mitt Romney's economic plan, in Orlando, Florida.

"Obama: 'They Have Tried To Sell Us This Trickle-Down, Tax-Cut Fairy Dust Before" 

From Talking Points Memo

At risk of sounding cliche: (trust me, not the first time I've ever taken this risk) if the definition of insanity is doing the same thing over and over again expecting different results, then trickle-economics is the definition of insanity. 

In the 1980s, the Reagan Administration cut taxes deeply for the wealthy, as well as everyone else, while increasing Federal spending , without paying a penny for either, at the exact same time and by 1984 we went from a 50 billion-dollar deficit, to a 200 hundred-billion-dollar deficit. 

In the 2000s, the Bush Administration cut taxes for the wealthy and increased Federal spending, while borrowing all that money for both and President Bush goes from a 200 hundred- billion-dollar budget surplus at the start of 2001, to a 400 hundred-billion-dollar deficit to start off 2005, a trillion-dollar deficit to end 2008. 

And now in 2012 Governor Mitt Romney running for President, wants another trillion-dollar tax cut to benefit mostly the wealthy (if anyone else) while adding hundreds of billions of dollars to the defense budget, again without paying for any of these proposals. 

A guy could jump into a lake 100 times on the same day thinking he'll never get wet for any of the jumps (perhaps he's drunk, high, and insane at the same time) and then says the 101st time will be the time he jumps into the lake without getting wet. I think anyone with a brain, whose not drunk or high, would have to think this guy is a crazy comedian, or just a damn fool. Trickle-down economics is just as crazy as the guy jumping into lake thinking he'll never get wet.