PETER PETERSON: You and I are going to be getting tax cuts, so that my six
year old, nine year old, five year old, etcetera, grandchild can pay bigger
taxes in the future.


One problem with that theory: Peter will either (a) spend the tax refund, or
(b) save it, and eventually leave it to his kids. Either way, the money
finds its way back into the economy...rather than in the hands of the
government.


Huh?

The tax cuts only work if they are accompanied by equivalent decreases in
government spending. It isn't the "tax cut" that our kids will be paying back,
specifically, it's the federal debt, (and the interest on that debt) that is
resulting from
cutting our tax income while we increase our government expenses.

Your guy's abject financial failure isn't the tax cut- it's the tax cut
*without* a decrease, indeed an incredible *increase* in the federal budget.