History has shown just how dangerous a faulty analogy can be. Your kid cannot print money; the U.S. Treasury can. Your kid cannot borrow money from China; the U.S. Government can. Instead of reducing spending, starving the beast resulted in ever increasing budget deficits. Cutting taxes is always popular; cutting government benefits, not so much. In a move reminiscent of the Sorcerer's Apprentice President Reagan realized during his second term that things were getting out of hand and agreed to a series of tax increases. But it was too late. The era of fiscal magical thinking in the conservative movement and the American public had begun. In every election cycle since Republicans have pandered to voters singing the same seductive refrain, "Cut Taxes!" while remaining silent on exactly which programs to cut.
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