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Originally Posted by fishbones
So now it's the tax cuts that led to the deficit? I thought it was the war in Iraq?
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You imply my post states that the tax cuts were the sole reason.
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Really? Seems as though the Bush tax cuts have contributed significantly to the current economic situation, while also contributing to a massive increase in the national debt under his reign. One major criticism of current Dems is that if they cannot pay for their spending and debt increases significantly, we're in for major issues with inflation and long-term economic problems (which I fully agree with).
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There are massive costs that come with starting 2 wars, yet Bush pushed tax cuts through in 2001 and again in 2003. He had his war agenda in place and no plan to pay for it. I'll accept the 2001 cuts because of Sept 11 and him campaigning on it, but then to thoroughly plan a case for war in Iraq and push more tax cuts in the same year was reckless. There are so many things that have gone wrong in Iraq that "how were we going to pay for this again?" often is forgotten.
It's similar to the current situation we face with health care and the bailouts. With the agenda the Dems have in place, if they were then to push for tax cuts, there would be no question to the complete financial failure of this country.
Huge debts plus additional expenses and then to decrease receivables from taxes is insane. It is insane today and it was insane during the last administration.