- Banned
- #1
"The election of Obama in 2008 was the signal for conservatives to spring the deficit trap. They immediately turned from being deficit lovers into being deficit haters. All of a sudden they claimed that deficits were the number one problem facing government and that we needed to begin drastically cutting domestic spending. Matters were made worse when the severe recession started in 2008. It necessitated large bailouts to key financial institutions and billions in stimulus funds to prevent the economy from sinking into a depression. The recession also dramatically lowered federal tax revenues and made the deficits even worse. All of this played right into the hands of conservatives, who blamed these increased deficits on out of control government spending. The only question that remained was how far the Republicans would go in their proposals to dramatically reduce government. It turned out they wanted to go farther than most Americans would have imagined."
Tax Cuts And 'Starving The Beast' - Forbes
Tax Cuts And 'Starving The Beast' - Forbes