Abracadabra Founding Member
Posts : 1325 Join date : 2010-05-13 Age : 81
| Subject: DEFICIT CAUSES-AFGHANISTAN, IRAQ WARS AND BUSH TAX CUTS! Tue 24 Aug 2010, 7:10 am | |
| "First, the facts. Nearly the entire deficit for this year and those projected into the near and medium terms are the result of three things: the ongoing wars in Afghanistan and Iraq, the Bush tax cuts and the recession. The solution to our fiscal situation is: end the wars..." Christopher Hayes, The Nation. Use the below chart to dissect Christopher Hayes' statement that our current and future deficits are caused by "three things: the ongoing wars in Afghanistan and Iraq, the Bush tax cuts and the recession." Two of those three things -- the wars and tax cuts -- were in effect from 2003 through 2007. Do you see alarming deficits or trends from 2003 through 2007 in the above chart?
NO. In fact, the trend through 2007 is shrinking deficits. What you see is a significant upward tick in 2008, and then an explosion in 2009. Now, what might have happened between 2007 and 2008, and then 2009?
Democrats taking over both houses of Congress, and then the presidency, was what happened. Republicans wrote the budgets for the fiscal years through 2007. Congressional Democrats wrote the budgets for FY 2008 and on. When the Democrats also took over the White House, they immediately passed an $814-billion "stimulus." |
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