Tax cuts haven't increased our budget deficit

In the midst of a CBS radio(?) report about Obama's announcement of a "deficit panel" the reporter described all the (external-to-Obama-and-Democrats) factors that have contributed to the current RECORD deficit. The last one mentioned was "tax cuts" . . . well, that's not true. It's the spending, stupid. Hillsdale College - Imprimis Issue:

The real undeniable test of tax policy is not short-term shifts in revenue but long-term shifts in spending that are most clearly manifested by increases in the federal budget. Between 1981 and 2004, current government spending in terms of dollars increased fivefold while the total hovered a little above 20 percent of GDP.

In the mid-1980s, World Bank economist Keith Marsden showed how this is possible: Low tax countries increase their spending three times faster than comparable high tax countries. This is because the low tax economies grow six times faster. For most of the period since World War II, the fastest growing economy in the world, with the fastest growth in government spending, was Hong Kong, with a top rate of 16 percent. A study by Jude Wanniski at Polyconomics extended the analysis through the Reagan era, with the same results. In recent years, Ireland, New Zealand and Russia massively increased spending after drastically reducing tax rates. Russia has increased outlays by some 60 percent after enacting a 13 percent flat tax.