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Politics : PRESIDENT GEORGE W. BUSH
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From: Kenneth E. Phillipps3/10/2006 3:18:06 PM
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"2001: President George W. Bush won a $1.35 trillion tax cut despite a $5.6 trillion national debt based on his claim that a government that stood to run a $5.6 trillion surplus should give taxpayers' money back. The debt was $6.2 trillion when deficits returned the next year after recession and the 9/11 attacks.

2006: Iraq, homeland security and Hurricane Katrina reconstruction costs helped the government hit the $8.2 trillion debt ceiling, prompting Bush to ask Congress to raise the debt limit to just under $9 trillion. But his call to make his 2001 and 2003 tax cuts permanent has confronted congressional estimates that put the 10-year cost at another $2 trillion."

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