Economic Downturn and Bush Policies Continue to Drive Large Projected Deficits - May 2011http://www.cbpp.org/cms/index.cfm?fa=view&id=3490&utm_source=twitterOops.
"In a head to head in 2008, Bush would have a 50 state mandate against Obama!"He just barely beat a wax figurine like John Kerry! Try making up some new "facts", nitwit.
Indeed...both sides have run us into the ground for their short term power gain. We need to fire the lot of them.
Scary that Bush's tax cuts for the wealthy have contributed more to the deficit than Iraq and Afghanistan combined. That is a very serious amount of money.
Supply Side Economics, the belief that you can slash taxes and spend at the same level, because your tax revenues will grow based on new economic growth, is the major cause of the deficits. It just isn't true.
At some point, the Republican Party is going to have to stop seeing lower taxes and less regulation as the universal cure-all for America's problems. Looking at the chart, we could have absorbed the Bush tax cuts without too much strain IF we hadn't simultaneously gone on a mad, unfinanced war spending spree in the Middle East. Alternatively, we could have fought those wars without terrible financial strain if we had left taxes where they were when Bush came into office. But we chose, which is to say President Bush and his Republican Congress chose, to spend like crazy while reducing revenue.