Edit - I thought you replied to a different conversation - but feel free to still read the post! 
- Edit 1
- Edit 1Before modification by Anonymous2000 at 16/10/2012 08:05:38 PM
Regarding Bush:
Tax rates were cut, economy grew, tax revenue significantly increased.....indisputable facts, right? Yes, this is a test for you.
However, even though tax revenue increased, spending increased EVEN MORE, creating a larger deficit. Remember, deficit is the difference between revenue and spending. This is GWB's failing, his reckless spending, not his tax cuts. The federal budget increased from $1.9T to $3.0T under his watch. See the problem?
If GWB only increased spending at the rate of inflation, we would have a massive surplus during his tenure as President.
Tax rates were cut, economy grew, tax revenue significantly increased.....indisputable facts, right? Yes, this is a test for you.
However, even though tax revenue increased, spending increased EVEN MORE, creating a larger deficit. Remember, deficit is the difference between revenue and spending. This is GWB's failing, his reckless spending, not his tax cuts. The federal budget increased from $1.9T to $3.0T under his watch. See the problem?
If GWB only increased spending at the rate of inflation, we would have a massive surplus during his tenure as President.