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Does anyone remember the reason he raised taxes after the "read my lips" thing?
Seriously, you don't know how to use Google?
"When in office, Bush found it challenging to keep his promise. The Bush campaign's figures had been based on the assumption that the high growth of the late 1980s would continue throughout his time in office. Instead, a recession began. By 1990, rising budget deficits, fueled by a growth in mandatory spending and a declining economy, began to greatly increase the federal deficit. The Gramm-Rudman-Hollings Balanced Budget Act mandated that the deficit be reduced, or else mandatory cuts unpalatable to both Republicans and Democrats would be made. Reducing this deficit was a difficult task. New cuts of any substance would have to come either from entitlement programs, such as Medicare or Social Security, or from defense."
I can't remember if it was Robert Reich or not but I remember someone pointing out that George H.W. Bush had to raise taxes to address the problems that were left to him by Reaganomics. This demonstrated the shortcomings of Reagan's tax cuts.
Quote:
ROBERT REICH: No, Ray. The jury is not out on this. It's very clear that government revenues did not compensate for the cut in taxes. That's why we ended the 1980s with a huge deficit. That's why we started the '90s with a gigantic debt.
The Democratic controlled Senate and House sandbagged him.
His stupid comment cost him the election (I know I know that's simplifying it but who wants to rehash that election again?).
3rd Party Candidate Ross Perot cost him the election and put Bill C in office. Perot split the conservative vote.
I voted for Perot but it taught us all a huge lesson about 3rd parties. It's one reason Bernie ran as a Democrat and not an Independent.
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