I think I detect a pattern here. I’m looking at this because I ran across yet another place where Bush was talking about making his tax cuts permanent. And then I read about his non-responses to the "overborrowing" problem. It’s hard for me to understand how he can even think of concretizing his tax cuts with sustained deficits that look like this. Reagan did it, and so did Bush’s dad, but that doesn’t make it right. I presume that when Bush or McCain talk about fiscal responsibility and cutting government spending, they’re counting on people not knowing the truth about what Reagan and the two Bushes have done to our National Debt, shown below as a per cent of the Gross National Product:
It is beyond ironic that our major economic problem right now is that Banks have allowed people to borrow way more money than they can pay back [or even pay on] to purchase homes – borrowing like there’s no tomorrow. I wonder where those home buyers got that idea of ignoring debt?
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