Brady Admits Tax Cuts Increase the Deficit

Illinois' Republican gubernatorial candidate Bill Brady says his plans for cutting taxes would increase the Illinois deficit by up to $1 billion, at least in the short term.

HOLD UP A MINUTE...

Cutting taxes increases the deficit? This flies in the face of everything national Republicans have been telling the nation for almost a decade. Their entire platform is built on the claim that tax cuts actually increase revenue. And now we have the Republican candidate for governor of the fifth largest state in the Union telling us his plan to cut taxes will actually decrease revenue and increase the deficit???

Technically Brady is right. His plan to cut taxes will add-- at least-- an extra billion dollars to an already record $13 billion deficit. What he's trying to do is then say that eventually the tax cuts will cause the economy to pick up and then he'll magically shrink the deficit.  To his credit, Brady also announced that he would have to make spending cuts to offset the loss in revenue generated by his tax cuts.  He failed to detail what spending cuts he would make, however.

What we do get from this, though, is a Republican finally admitting tax cuts increase the deficit and have to be offset.  In short, that's the opposite what Republicans have been saying since forever.