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Each household in America owes $534,000.00 to pay this tab.
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08-07-2011, 04:31 AM
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inchaaruutaa
Join Date
Oct 2005
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445
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Bush deficits:
2002: 157.8 billion
2003: 377.6 billion
2004: 412.7 billion
2005: 318.3 billion
2006: 248.2 billion
2007: 160.7 billion
If the tax cuts were so damaging, why were we moving toward a balanced budget up until 2007? What changed in 2007? The housing bubble burst leading to economic recession.
2008: 458.6 billion
2009: 1.41 trillion
One cannot honestly blame those increased deficits on a tax cut 5 years prior. The best argument that could be made is that the Bush cuts caused the deficit to spike to $412 billion, but then what is the explanation for the deficit coming back down? Another argument that has been made is that the tax cuts caused the 2001 Clinton surplus of $128 billion to turn into a $157 billion deficit in 2002. Only one problem with that argument. The Bush tax cuts 'for the rich' were not implemented until 2003.
It is impossible to have an intelligent discussion about how changes in tax policy will effect the future when some insist on continueing to lie about what has happened in the past.
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