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Politics : PRESIDENT GEORGE W. BUSH
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To: American Spirit who wrote (174481)8/26/2001 5:46:58 PM
From: Peter O'Brien  Read Replies (2) of 769670
 
Reagan's deficits were not close to being a "record"
when measured as a % of GDP.

The all-time record deficits for the United States (as a % of GDP) were
under *Democrat* F.D. Roosevelt.

Clinton managed to close the gap temporarily by "soaking the rich"
with higher taxes. This worked for a few years, but now all hell
is breaking loose as a result. Clinton's tax increases raised annual
federal tax revenue (as a % of GDP) to its all-time high in 2000
(tied with 1944 during World War II). Now look at what has happened!
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