Before the Trump administration began their tax plan briefing, CNN's Dana Bash reminded viewers that George Bush used tax cuts only and promised they would create massive wealth when he took office in 01', but instead turned Bill Clinton's federal budget surplus into huge deficits.
During a panel discussion with Wolf Blitzer about Trump's new tax plan, Gloria Borger remarked that cutting taxes alone just creates bigger federal deficits and many Republicans don't believe that you simply can grow your way out of deficit problems. (Not that many Republicans actually care about the deficit, of course)
Dana Bash then reminded viewers that George Bush was the last Republican president who "successfully pushed a very, very large tax cut without offsets."
Bush used the classic Republican argument, that supply side, trickle-down economics would pay for those tax cuts by themselves.
What happened after Clinton balanced the budget, Dana?
Bash continued, "That all went out the window and the deficits and the debts that we have now."
"So that leads us to today and the question about whether or not Republicans now are going to say 'should we try it again' or did we learn our lesson and that just didn't work and it does seem in talking to Republicans at this point, that for the most part, those on Capitol Hill say it doesn't work. and we do need offsets and we have learned a lesson," Bash said.
If only they'd also learn that trickle-down economics is a lie, too.
