So on the one hand, a measure that will make a small dent in the deficit. On the other hand, a measure that will lead to a huge increase in the deficit. There’s no theory of the economy in which this really makes sense: If the market is worried about the government’s finances, this makes them worse, not better. If we need lower tax rates, then simply holding the tax rates at the level that produced 2010’s disappointing economic performance isn’t enough.
It’s also worth noting that these policies are both stale: The Bush tax cuts are, well, the Bush tax cuts. They’re tax policy from 10 years ago, designed to deal with a very different set of circumstances. And the 2008 budget is, similarly, just an arbitrary number from some point in the past. Our economic situation has changed dramatically in the past few years. Don’t Republicans have any fresh thinking on what to do about it?