Bush tax cuts the biggest part of the deficit increase

Discussion in 'Politics' started by Truthmatters, Aug 14, 2012.

  1. Truthmatters
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  2. whitehall
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    whitehall Gold Member

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    Still whining about Bush? Barry Hussein is the president.
     
  3. SniperFire
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    SniperFire Senior Member

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    Only spending causes deficits.


    OP Failure.
     
  4. Truthmatters
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    http://www.cbpp.org/cms/index.cfm?fa=view&id=3036


    Bush Tax Cuts, War Costs Do Lasting Harm to Budget Outlook





    Some commentators blame recent legislation — the stimulus bill and the financial rescues — for today’s record deficits. Yet those costs pale next to other policies enacted since 2001 that have swollen the deficit. Those other policies may be less conspicuous now, because many were enacted years ago and they have long since been absorbed into CBO’s and other organizations’ budget projections.

    Just two policies dating from the Bush Administration — tax cuts and the wars in Iraq and Afghanistan — accounted for over $500 billion of the deficit in 2009 and will account for almost $7 trillion in deficits in 2009 through 2019, including the associated debt-service costs. [6] (The prescription drug benefit enacted in 2003 accounts for further substantial increases in deficits and debt, which we are unable to quantify due to data limitations.) These impacts easily dwarf the stimulus and financial rescues. Furthermore, unlike those temporary costs, these inherited policies (especially the tax cuts and the drug benefit) do not fade away as the economy recovers (see Figure 1).

    Without the economic downturn and the fiscal policies of the previous Administration, the budget would be roughly in balance over the next decade. That would have put the nation on a much sounder footing to address the demographic challenges and the cost pressures in health care that darken the long-run fiscal outlook
     
    Last edited: Aug 14, 2012
  5. Charles_Main
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    Charles_Main AR15 Owner

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    Epic Fail, Not worth further Response.

    I would Bother if I didn't know the Author so well. lol
     
  6. Truthmatters
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    Now when will you accept the fact of what your party did to this country?
     
  7. Charles_Main
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    Charles_Main AR15 Owner

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    The Same time You accept the Fact that Your Party has done even worse.
     
  8. Leweman
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    Leweman Gold Member

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    I must have fell asleep and woke up in 2008
     
  9. Shelzin
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    Shelzin Equal Opportunity Asshole

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    I agree with both of you.
     
  10. hortysir
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    hortysir In Memorial of 47

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    Why?????


    Can someone tell me WHY?????



    Why I the FUCK did I just click on a TDM fucking link?

    It's like a bloody car crash......you can't help but look......you know you shouldn't.....



    I......feel.........




    so









    ashamed.









    But, ya know what?!
    :D

    Ya wanna know what I learned while I was there?





    This >>>>>>>>>>> Updated June 28, 2010




    :lmao:
     
    • Thank You! Thank You! x 2

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