10 Years Ago Today, Borrowing Billions for Tax Cuts

Remember where it started just as much as where it will likely finish today. By "finish" I mean, there is sort of an end game....

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Nearly 10 Years Ago Today, The U.S. Began Borrowing Billions To Pay For The Bush Tax Cuts

By Zaid Jilani on Jul 20, 2011 at 10:10 am
As debates about deficit reduction continued to be heavily tilted toward cutting spending, which threatens to undermine a fragile recovery, rather than raising revenue from those who can afford it, it’s important to remember the budgetary impact of the Bush tax cuts.
Nearly 10 years ago today, on August 1, 2001, the Associated Press reported that the Treasury Department was tapping $51 billion of credit in order to pay for the budgetary cost of the first round of Bush tax cuts’ rebate checks. The AP reported at the time that Democratic Party opponents of the tax cuts worried that they’d return government budgets to “red ink“:
https://teakdoor.com/images/smilies1/You_Rock_Emoticon.gif The opponents of the tax cut turned out to be right. The 2001 and 2003 tax cuts combined have blown a $2.5 trillion hole in America’s budget and created deficits stretching on for years.

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Link included.

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It's going to end when the socialists finally realize there ain't no more money left.


CNN Poll: Two-Thirds of Americans Support House Republican’s Cut, Cap And Balance Plan

CNN just released a poll of 1,000 Americans showing overwhelming support for the House Republican approach to the debt limit crisis. Specifically, 66 percent of Americans favor a deal where both houses of Congresses pass a balance budget amendment, and substantial cuts and caps on future spending, in exchange for a debt limit hike.As a stand alone measure 74 percent of Americans favor a constitutional amendment to require a balanced federal budget. And 60 percent of Americans believe a balanced budget amendment is necessary to get federal deficits under control.
The poll is not all bad news for President Obama. Sixty-six percent of Americans do support a plan to cut four trillion dollars in government spending and raise taxes as part of a debt limit hike

Two-thirds of Americans support House Cut Cap and Balance Plan | Conn Carroll | Beltway Confidential | Washington Examiner

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Originally Posted by Boon Mee

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It's going to end when the socialists finally realize there ain't no more money left.


CNN Poll: Two-Thirds of Americans Support House Republican’s Cut, Cap And Balance Plan

CNN just released a poll of 1,000 Americans showing overwhelming support for the House Republican approach to the debt limit crisis. Specifically, 66 percent of Americans favor a deal where both houses of Congresses pass a balance budget amendment, and substantial cuts and caps on future spending, in exchange for a debt limit hike.As a stand alone measure 74 percent of Americans favor a constitutional amendment to require a balanced federal budget. And 60 percent of Americans believe a balanced budget amendment is necessary to get federal deficits under control.
The poll is not all bad news for President Obama. Sixty-six percent of Americans do support a plan to cut four trillion dollars in government spending and raise taxes as part of a debt limit hike

Two-thirds of Americans support House Cut Cap and Balance Plan | Conn Carroll | Beltway Confidential | Washington Examiner

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Thats because they're still paying back money george bush overspent.
When will your tiny brain get this.
bush took over a government that had a huge surplus.
He spent it all.
He left a government that was in huge debt with the entire financial system collaplsing.
How long will it take to sink in BM?.
This fucking mess was inherited by the current government.
I agree they're not doing a very good job of sorting it out, but the mess is not of their making.

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Originally Posted by Koojo

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Originally Posted by Boon Mee

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It's going to end when the socialists finally realize there ain't no more money left.


CNN Poll: Two-Thirds of Americans Support House Republican’s Cut, Cap And Balance Plan

CNN just released a poll of 1,000 Americans showing overwhelming support for the House Republican approach to the debt limit crisis. Specifically, 66 percent of Americans favor a deal where both houses of Congresses pass a balance budget amendment, and substantial cuts and caps on future spending, in exchange for a debt limit hike.As a stand alone measure 74 percent of Americans favor a constitutional amendment to require a balanced federal budget. And 60 percent of Americans believe a balanced budget amendment is necessary to get federal deficits under control.
The poll is not all bad news for President Obama. Sixty-six percent of Americans do support a plan to cut four trillion dollars in government spending and raise taxes as part of a debt limit hike

Two-thirds of Americans support House Cut Cap and Balance Plan | Conn Carroll | Beltway Confidential | Washington Examiner

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Thats because they're still paying back money george bush overspent.
When will your tiny brain get this.
bush took over a government that had a huge surplus.
He spent it all.
He left a government that was in huge debt with the entire financial system collaplsing.
How long will it take to sink in BM?.
This fucking mess was inherited by the current government.
I agree they're not doing a very good job of sorting it out, but the mess is not of their making.

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When will your looney left-wing moonbat conciousness realize that Obama inherited a mess but compounded it by further spending, eh? The deficiet grew exponentially under Obama - it's his economy and he has owned up to it by the way. Pelosi too...:mid:

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Originally Posted by Boon Mee

Quote:

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Originally Posted by Koojo

Quote:

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Originally Posted by Boon Mee

^

It's going to end when the socialists finally realize there ain't no more money left.


CNN Poll: Two-Thirds of Americans Support House Republican’s Cut, Cap And Balance Plan

CNN just released a poll of 1,000 Americans showing overwhelming support for the House Republican approach to the debt limit crisis. Specifically, 66 percent of Americans favor a deal where both houses of Congresses pass a balance budget amendment, and substantial cuts and caps on future spending, in exchange for a debt limit hike.As a stand alone measure 74 percent of Americans favor a constitutional amendment to require a balanced federal budget. And 60 percent of Americans believe a balanced budget amendment is necessary to get federal deficits under control.
The poll is not all bad news for President Obama. Sixty-six percent of Americans do support a plan to cut four trillion dollars in government spending and raise taxes as part of a debt limit hike

Two-thirds of Americans support House Cut Cap and Balance Plan | Conn Carroll | Beltway Confidential | Washington Examiner

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Thats because they're still paying back money george bush overspent.
When will your tiny brain get this.
bush took over a government that had a huge surplus.
He spent it all.
He left a government that was in huge debt with the entire financial system collaplsing.
How long will it take to sink in BM?.
This fucking mess was inherited by the current government.
I agree they're not doing a very good job of sorting it out, but the mess is not of their making.

---

When will your looney left-wing moonbat conciousness realize that Obama inherited a mess but compounded it by further spending, eh? The deficiet grew exponentially under Obama - it's his economy and he has owned up to it by the way. Pelosi too...:mid:

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I'm glad you agree with me.

Quote:

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Originally Posted by Boon Mee

^

It's going to end when the socialists finally realize there ain't no more money left.


CNN Poll: Two-Thirds of Americans Support House Republican’s Cut, Cap And Balance Plan

CNN just released a poll of 1,000 Americans showing overwhelming support for the House Republican approach to the debt limit crisis. Specifically, 66 percent of Americans favor a deal where both houses of Congresses pass a balance budget amendment, and substantial cuts and caps on future spending, in exchange for a debt limit hike.As a stand alone measure 74 percent of Americans favor a constitutional amendment to require a balanced federal budget. And 60 percent of Americans believe a balanced budget amendment is necessary to get federal deficits under control.
The poll is not all bad news for President Obama. Sixty-six percent of Americans do support a plan to cut four trillion dollars in government spending and raise taxes as part of a debt limit hike

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Boon,

This is meaningless.

This is just short-term thinking in the US. Gov spending is going to explode.

There is only one way out of it: make massive medicare cuts, and raise the age of eligibility.

Then, Social Security.

Then, Pentagon and Military Industrial Complex spending.

It's these top 3.