Fiscal Cliff Notes  Thomas Sowell's picture
MikePatton's picture Joined: 11/08/2007 True. Bush balanced the
True. Bush balanced the budget by taxing the rich less, they
were able to make more money, thus increasing revenue.  albion's
picture Joined: 12/27/2005 Not true  Neither George H.W. Bush
nor George W. Bush balanced the budget during their respective
administrations.  Under GWHB the budget deficit, as a percentage
of GDP, ranged from -2.8% to -4.7%. GWB inherited a $128 billion
surplus (+1.3%) that he turned it into a deficit for the next
seven years of his aministration.  The Bush tax cuts are the
largets single contributing factor to the deficit today. Take
back those cuts, and the cost of the two wars, and the deficit
would be about 0.4% of GDP.  Opinions are all well and good, but
you cannot manufacture facts.  NUK_1's picture Joined:
12/17/2007 LOL....think u missed the sarcasm there  Don't think
that "Mike Patton" was being too serious there and looking to
see who fell for it