The Republican's Magical Mystery Tour (Coming Soon)

[Tom Joad]

What was it that Dude said about insanity?

Doing the same thing over and over and expecting different results?

Well, here we go again.

http://www.commondreams.org/views/20...ur-coming-soon

by
Robert Reich

According to reports, one of the first acts of the Republican congress will be to fire Doug Elmendorf, current director of the non-partisan Congressional Budget Office, because he won’t use “dynamic scoring” for his economic projections.

Dynamic scoring is the magical-mystery math Republicans have been pushing since they came up with supply-side “trickle-down” economics.

It’s based on the belief that cutting taxes unleashes economic growth and thereby produces additional government revenue. Supposedly the added revenue more than makes up for what’s lost when Congress hands out the tax cuts.

Few economic theories have been as thoroughly tested in the real world as supply-side economics, and so notoriously failed.

continued

[Rajoo]

Look what happened in the real estate market. Lenders used to not only offer a mortgage with zero money down but go one step further and approve a HELOC based on it's future market value.