Quote:
Originally Posted by whell
Give me a break. The Bush first term was met with the economic impact of the burst of the dot com bubble, the lingering impact of the Y2K scare. EGTRA was passed in June 2001, but then we had planes ramming into the WTC and the Pentagon. This caused the recession to deepen and lengthen, caused a huge ripple in the insurance / reinsurance markets and a significant downward push in stock prices. To say that the tax cut, and the face of that set of circumstances, "didn't lead to economic growth" is really playing pretty fast and loose with the facts.
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His large tax cuts and the financing of two wars through debt did indeed greatly increase the national debt. It was yet another example of supply-side not working out as planned. Never has, never will because it defies the laws of economics and math.