on the State of the Union, February 27, 2001.
National debt in October 2008: 10.4 trillion
National debt in January 2001: 5.6 trillion
There is a real debate that can be had in this country about the size of government.
Unfortunately, the supply-side deficit creators lack the credibility to have a place at the table about this debate.
We are in year 8 of the 10 year window in which George W. Bush promised we would pay down 2 trillion dollars in debt. We instead increased the debt by 4.8 trillion.
Even after factoring in the cost of the Iraq and Afghan wars, we have had a radical
change in the national debt.
Also, for those nostalgic for the "good old days" of wildly pessimistic conservative think tank assessments, I offer:
"If enacted, the Clinton tax hike will fuel more federal spending, destroy jobs, undermine America's international competitiveness, reduce economic growth, and increase the budget deficit".--Dr. Daniel J. Mitchell, Ph.D., February 18, 1993
Heritage Foundation Source
My goodness, it's a puzzling world--but not all that puzzling.