Quote:
Originally Posted by oberon_1
Economy:Bush began by giving back taxes "to the people", thus triggering another disastrous period of deficit, from which we still didn't recover (even in 2016! I don't claim Bush was responsible for Obama's term, but it was his administration idea - by the gentlemen mention above) . But the recession which was beginning to show 2001, needed to be masked and hidden under the carpet to continue pretending prosperity. And real estate bubble was the perfect tool. We were doing "very well" economically until 2008. Yes, Alan Greenspan propagated it farther, but the beginning was with the Bush administration.
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After the 2001 and 2003 Bush tax cuts, government revenue increased by $785 billion between 2004 and 2007, the largest four-year increase up to that time. Cutting taxes does not cause an increase in deficit; overspending does.
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