Sen. Olympia Snowe Does Not Understand Budgets
It seems Sen. Olympia Snowe (R-ME) isn't even trying to make sense any more:
Fiscal shenanigans such as permanent tax increases to pay for one-year temporary measures are precisely the problem that drove our nation into a $15 trillion debt crisis.
Huh? Passing a permanent tax increase to pay for a temporary measure would, logically, decrease debt, not increase it.
And, indeed, if we look back over history, we don't see "permanent tax increases" as drivers of debt. Tax cuts, on the other hand — like those signed by Ronald Reagan and supported by Olympia Snowe and those signed by George W. Bush and supported by Olympia Snowe — have contributed to increasing deficits and debt. Meanwhile, tax increases — like those signed by Bill Clinton and opposed by Olympia Snowe in 1993 — reduced deficits.
Given Snowe's ongoing embrace of Tea Party Economics and shunning of basic economic concepts — not to mention her record of supporting measures that increased the deficit and opposing things that cut it — it isn't surprising that she'd adopt the up-is-down, black-is-white economic fantasy that tax increases cause deficits and tax cuts increase revenue. But it should help put to rest the notion that she's some kind of "moderate" or "sensible" Republican.