25 May 2011

The Bush Debt Crisis

This is truly telling. Follow this link, and look at the chart. Right now, the legacy debt (mostly left over from Reagan and Bush I) is the largest segment of the national debt, but the component directly resulting from the Bush II Tax Cuts (which predominantly affect the richest Americans) is a close second. By 2019, if these cuts were extended, they would constitute by a considerable margin, the largest segment of the debt. That same projection, when added to the projected ongoing effect on the debt of the Bush II wars in Iraq and Afghanistan, would constitute approximately HALF the National Debt.

Now who, again, was it that the Republicans were accusing of "recklessness" with the debt?

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