KRUGMAN: Bad news for Dr Evil fans: Days of 1 TRILLION $$$ deficit-OVER-In fact-deficit falling FAST

[ProSense]

7. The piece by Steve Benen (linked to in the OP) makes a point that

is lost if one doesn't read it in full. Here's Steve Benen smacking down Republicans BS "job-killing tax increases" meme:

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In recent years, the fiscal debate has been mind-numbing for a variety of reasons, but one of the more exasperating elements of the debate has been over the efficacy of tax revenue. Democrats would say, "If you want deficit reduction so much, let's raise taxes and close the budget shortfall." To which Republicans would respond, "That can't work, because higher taxes necessarily serve as a drag on the economy, which in turn prevents job creation, which in turn prevents more Americans from paying taxes in the first place."

GOP policymakers routinely compared this policy -- reducing the deficit through increased tax revenue -- to dog chasing their tails.

Well, here we are several months later. After the higher taxes kicked in, we saw the strongest job creation in eight years and the deficit got even smaller than expected.

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