Robert (gurdonark) wrote,

Words and Deeds

"Many of you have talked about the need to pay down our national debt. I listened, and I agree. We owe it to our children and grandchildren to act now, and I hope you will join me to pay down $2 trillion in debt during the next 10 years. At the end of those 10 years, we will have paid down all the debt that is available to retire. That is more debt, repaid more quickly than has ever been repaid by any nation at any time in history". ---President George W. Bush, Address Before a Joint Session of the Congress
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.

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