No, don't be confused by facts Tea Party GOP members, this supposed magic ratio comes from one paper, not peer reviewed mind you, but a working paper "published" by the discredited economists at The American Enterprise Institute (no agenda there!). The "study" was based on data that the IMF rejected for "[failing] to identify consolidations when governments took substantial actions to reduce the deficit, but the actions were associated with severe economic downturns”. So the entire Tea Party GOP plan is built on a lie. Who's surprised? Anyone? Anyone? Bueller? Bueller?
But wait, it gets better (you knew it would, didn't you!). If you look at the historical data for tax increases versus spending cuts, Tea Party GOP Presidents presided over far larger tax increase to spending cut plans than did Democrats.
|From Ezra Klein and The WaPo|
(Updated with AEI funding link from Dave, Thanks Dave!)