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Politics : Ask Michael Burke

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To: Freedom Fighter who wrote (127035)	4/15/2011 2:43:00 PM
From: Nadine Carroll	4 Recommendations Read Replies (1) of 132070

The idea that the Bush tax cuts are the primary cause of these very large deficits is preposterous. When they were passed, government revenues did NOT decline over a trillion dollars. That much is true. Federal Revenues rose by 40% after the Bush tax cuts, which were across the board. It is spending that has gone up, way over a trillion dollars. Entitlements have gone up. So has discretionary spending - over 80% up under Obama. The 2008 Federal deficit was $160 billion. Then came the financial crisis. TARP was supposed to be a one-time, emergency spending bill. Obama added it to the Federal government baseline. The $800 Billion Stimulus (aka Porkulus) was supposed to be one-time too. Obama added it to the baseline. Now the Federal Government baseline is $4 Trillion on revenues of $2.5 Trillion. Obama did that.

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