C_Clayton_Jones
Diamond Member
Correct.Meanwhile Obama and the Dems and Boehner ran up over $8 TRILLION in new debt
Nearly $7 trillion of our total debt was accumulated under Bush and Obama during years when tax revenues were under 17% of GDP. This was simply due to the Bush tax cuts which put a huge hole in tax collections during years when the economy was not doing as well as expected. Over the past 50 to 60 years, we have had federal outlays averaging around 20% of GDP with revenues averaging 18.5% of GDP. In years when revenues fell well below 18.5% of GDP, deficits soared. The bottom line is that Republican tax cuts have caused the vast majority of our debt, plain and simple. This idea that it has been overspending that has been the cause is an absolute fallacy.
And we have current GOP presidential candidates who seek to implement on the National level the same failed, reckless, and irresponsible fiscal policies as in Kansas.