Republicans continue to sabotage the recovery by blocking an unemployment benefit extension, claiming that $35 billion over ten years is too much to add to the deficit. $678 billion in tax cuts for the wealthy added to the deficit? That's just fine, apparently. Sen. Jon Kyl said we shouldn't even attempt to offset the $678 billion cost to extend the Bush tax cuts for people earning over 250k per year.
Republican Minority Leader Mitch McConnell wasn't content to be seen as a deficit hypocrite so he went one step further and insisted that there is no cost.
Krugman labeled it "invincible ignorance", and Ezra Klein examined the evidence. Bruce Bartlett had an interesting piece for people smart enough to understand that tax cuts don't pay for themselves about how "starve the beast" theory doesn't work."That's been the majority Republican view for some time," Minority Leader Mitch McConnell told TPMDC this afternoon after the weekly GOP press conference. "That there's no evidence whatsoever that the Bush tax cuts actually diminished revenue. They increased revenue, because of the vibrancy of these tax cuts in the economy. So I think what Senator Kyl was expressing was the view of virtually every Republican on that subject."
It's worth remembering that the Republican Party is still led by the same know-nothings and that they aren't the least bit serious about addressing the nations problems.