That's just factually inaccurate. The economy was growing at a healthy
rate BEFORE Clinton took
office. Interest rates were low BEFORE Clinton took office.
Government deficits are much better than individual deficits. That money
is now in the hands of
working stiffs instead of Congressmen. And guess what, if you add up all
the tax cuts, it's
actually much larger than the deficit. How did that happen? Did the
velocity of money actually
CREATE WEALTH? You bet it did.
Spouting stuff off the top of your head or out your ass don't
make it so. Bush Sr. was defeated because the economy was
in bad shape and he raised taxes because he had to, which
also didn't help his re-election.
For your edification, the tax cuts have totalled $1.7 trillion
out to 2010. The national debt when Bush took office was
$5.6 trillion. It's now $8.3 trillion and growing at the rate
of $1.75 billion per day. That's an additional $1.661 trillion
just till Bush leaves office or another $1.243 trillion through
2010.
To help you with that math, here are the answers:
(1) $8.3 - $5.6 = $2.7 trillion deficit increase through today.
(2) $9.961 - $5.6 = $4.361 trillion deficit increase by the time
Bush leaves office.
(3) $11.204 - $5.6 = $5.604 trillion deficit increase by the end
of the tax cuts in 2010.
Oh, and guess what, this doesn't include most of the debt
incurred for the war in Iraq because they've been doing it
"off budget" in supplementals. That's another $1 trillion.
It also doesn't include the two Social Security Trust Fund
obligations, which is astronomical in and of itself.
We're bankrupt baby.
Jim Eddins
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