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Originally Posted by Ark2
Thanks to the Clinton administration, actually, but nice try...
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You do realize that Bush was "elected" in 2000, right?
Now tell me when exactly did the US economy begin to tank?
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A decade has passed since President George W. Bush and a Republican-controlled Congress enacted the largest tax cuts in decades. What have they achieved? The national debt is increasing at an alarming rate, the economy continues to sputter and the gap between the working class and wealthy continues to grow.
Before he was elected in 2000, George W. Bush argued that a huge budget surplus — $230 billion at that time — showed that the federal government was collecting too much in taxes. After he won the presidency, the Republican-led Congress reduced taxes in 2001 and 2003. As a result, federal tax revenue is at its lowest level as a share of the economy since the 1950s.
Those cuts were set to expire at the end of last year, but were extended for two years through a bipartisan compromise that also extended unemployment benefits.
In a recent series on the federal deficit, The Washington Post examined how the federal deficit went from a predicted $2 trillion surplus to a $10 trillion deficit in just a decade.
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http://www.washingtonpost.com/busine...rNF_story.html