Greenspan: They Do Not

***Note to media and journalists everywhere*** 

Alan Greenspan, the inventor of our modern economy, Republican and Reagan appointee, tells Meet the Press the Bush tax cuts do not pay for themselves.

MR. GREENSPAN: Look, I'm very much in favor of tax cuts, but not with borrowed money. And the problem that we've gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day, that proves disastrous. And my view is I don't think we can play subtle policy here on it.

MR. GREGORY: You don't agree with Republican leaders who say tax cuts pay for themselves?

MR. GREENSPAN: They do not.

So now every time a Republican insists that tax cuts do not have to be offset, that tax cuts do not add to the deficit, that tax cuts pay for themselves, that Bush was right, here is reference point. Their very own economist doesn't even agree with what they say. Will the media hold the GOP accountable?

*Update:

Is there anything Bush did that wasn't the greatest ever?  Republicans believe Bush:

• Created 10 million jobs.  He didn't, it's lunatic lie. 

• That he kept us safe.  Considering every president has kept us safe, that's not much of a bragging point. 

• the economy was the greatest ever.  It was the worse since the Great Depression. 

• that GDP was the highest ever.  It was no where near it

• that unemployment was at its lowest ever.  Not even close. 

Now Rove goes on Fox News this morning and tells the world that Bush's tax cuts created the "largest amount of revenue being received by the government."Again, total lie.  In reality, tax revenue dropped steadily after the Bush tax cuts only to rebound in 2006 after an economic turn around only to crash again in 2008.  As a percentage of GDP, the largest tax revenues came in 2001, before the tax cuts were enacted.

It takes a real idiot, or a Fox News viewer, to believe the GOP's Fantasy World.