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Originally posted by FortAnthem
Revenue has been flat since the 80's, when the Republicans made all those big tax cuts and decided to "starve the beast" in order to kill big government. Problem is; they forgot to cut up the credit cards while they were at it and spending exploded off the charts. It makes me wonder if all those tax cuts for the rich have really helped America.
"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
Barack Obama - March 2006
Originally posted by FortAnthem
Revenue has been flat since the 80's, when the Republicans made all those big tax cuts and decided to "starve the beast" in order to kill big government. Problem is; they forgot to cut up the credit cards while they were at it and spending exploded off the charts. It makes me wonder if all those tax cuts for the rich have really helped America.
If you look at the last chart they show, you can see the point where revenue actually outpaced spending in the mid-90's under Clinton and his tax increases.edit on 7/21/11 by FortAnthem because: