The latest meme I've heard today is that the deficit needs to be corrected ...

[Ilsa]

by those unemployed people getting jobs and paying taxes.

Now, I'm sure if 14 million people found good jobs at good pay it could add up to a big chunk of change. But correct the deficit? I doubt it. Unless of course, the GOP wants to raise the tax rate to 70% on the middle class.

Anyone up to doing the math? I figure 14 mil at $45,000/year = $630,000,000,000. If they are taxed at 20%, it only brings in $126,000,000,000. That doesn't take into account the money multiplier effect, but do they really believe full employment cures the deficit?

[The Magistrate]

1. Economic Expansion Does Make a Big Difference, Ma'am

Not only does it increase government revenues, is cuts government expenses. Growth during the nineties is a chief reason President Clinton managed a surplus by the end of his administration.

[Wounded Bear]

2. Yes, but.......

the upper income brackets need to pay more to really offset the deficits.

[The Magistrate]

4. Eisenhower-Era Rates, Sir, Are Fine By Me

Once you get up into the upper tenth, and upper hundredth, and upper thousandth, rates need to be savage. And not just for the minor question of a budgetary deficit; society and government must work actively to prevent the concentration of too great a proportion of the whole wealth in too few hands. Whether one likes it or not, the whole system breaks down once the distribution becomes too lop-sided.

[Bandit]

7. There was certainly a combination of things at work for Clinton

He had higher taxes on the wealthy and his Defense budget was about half of what it is today plus no wars of consequence.. It did indeed certainly help that employment was up considerably, but there is a reason for that as well. Democrats just Govern better for the country. Republicans "govern" for the rich and powerful ONLY..

[The Magistrate]

8. All true, Sir

[damntexdem]

3. I'm in favor. And as to the deficit, tax the rich.

[girl gone mad]

5. The question is why do people believe that the deficit needs to be "corrected".

:shrug:

[lib_wit_it]

6. Because that's what Fox Noise is telling them, along with most other "news" media and politicians.

And, they haven't read this article:

The debt is not nearly as scary as you think: Government budgets are nothing like family budgets
BY DAVID GRAEBER

We have to live within our means. That's what President Obama repeatedly tells us, echoing a point Republicans have been making for years. Like households, governments must husband our resources and balance our budgets, or future generations will surely pay.

There's a problem here. The analogy is ridiculous. Government budgets - and the U.S. budget in particular - are absolutely nothing like a household budget.

Here are five reasons why: http://articles.nydailynews.com/2011-04-21/news/29473083_1_government-budgets-foreign-debt-treasury-bonds