Thursday, March 20, 2008

Recession math smacks head-on into Reagan myth

Georgia Republicans have a choice to make, a choice between math and myth.

The math is pretty simple: We're heading into a major recession that a lot of economists predict could be deeper and longer than anything we've experienced in a generation or longer. Already, state revenues have begun to fall significantly, raising fear of budget shortfalls.

In California, the situation has already gotten so bad that 20,000 school employees may soon be laid off to balance the budget.

Under such circumstances, basic math says that passing significant tax cuts would compound the problem. It would turn potentially serious budget cutbacks into something truly traumatic.

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