national debt and deficit spending is now a great idea

[dherd]

WASHINGTON — In 2001, when surging budget surpluses fueled hopes of extinguishing the national debt, a pitched battle broke out over President George W. Bush’s proposed $1.6 trillion tax cut. Never mind that the tax cut’s 10-year tab was supposed to leave behind more than $3 trillion in surpluses — Democrats and some Republicans said that the tax cut was just too large.

When Mr. Bush took office and pushed for a big tax cut, the fiscal outlook was strong. The Congressional Budget Office in 2001 was projecting $5.6 trillion in budget surpluses over 10 years.

Fast forward to President Trump’s Washington, where the budget deficit for this fiscal year is projected to near $700 billion and the federal debt has topped $20 trillion.

A new tax cut is emerging to rival those of the Bush years, and the deficit hawks have hardly peeped.

“It’s a great talking point when you have an administration that’s Democrat-led,” said Representative Mark Walker, Republican of North Carolina and the chairman of the Republican Study Committee, a group of about 150 conservative House members. “It’s a little different now that Republicans have both houses and the administration.”

CURSES - PLAYED AGAIN!

http://app.nytimes.com/

 

[raleighherdfan]

I guess the CBO hadn't realized the tech markets had imploded in 2000 helping to create a recessionary economy in 2001. This articles author also seems to forget the negative economic impacts of Sept 11 2001.

You are the best at finding ignorant based stories that I've ever seen.