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Politics : Mainstream Politics and Economics

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To: Nadine Carroll who wrote (168)8/31/2011 6:04:51 PM
From: KyrosL  Read Replies (1) of 85487
 
Past performance suggests they would all be spent on new programs

That is not true.

Clinton increased taxes and, with the help of Congress, controlled spending, so that by the end of his term people like Greenspan claimed the government would be running surpluses as far as the eye can see, and there was a danger of retiring all government bonds and not having them as interest rate benchmarks. This was the justification for the Bush tax cuts.
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