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by smsm42
4923 days ago
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Of course Bush is to blame for everything. It's not like Obama had control over the budget for 4 years now and did nothing to reign in spending. Here I was naively hoping there's some point where blaming Bush has to stop. Of course it will never stop. >>>> decreased tax revenues -> deficit This is only partially true - IIRC, CBO estimates are about 24% of the Bush-era deficits were caused by tax cuts. The rest is spending increases and tax revenue falling short of previous expectations (i.e. would happen with or without tax cuts, and without tax cuts would probably be more severe as tax cuts were observed to decrease tax avoidance). The difference between 400bn and 1trln can not be explained by tax cuts. |
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Because he's a dictator?
"and did nothing to reign in spending. "
Slowest increase in spending since Eisenhower?
"Here I was naively hoping there's some point where blaming Bush has to stop. Of course it will never stop."
Because it will never stop being true that he's responsible for the current fiscal mess? I'm sorry it's an 'inconvenient truth" for you that Bush sucked and got us in this mess.
"The rest is spending increases and tax revenue falling short of previous expectations"
This is actually what I meant by decreased revenues. My full quote as you can see is:
"decreased tax revenues -> deficit) and the continued unfunded wars, tax cuts and Medicare D program."
So perhaps that could have been punctuated better but it's not hard to see that I was making the distinction between the tax cuts and the decreased revenues due to recession/depression.