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CBO report no cause for celebration

February 7, 2013

The cheering and applause you didn’t hear from Washington on Tuesday was over the Congressional Budget Office’s report that President Barack Obama may be about to pass a milestone — his first year i......

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Auntydem

Feb-08-13 8:47 PM

Putting in perspective Reagan's 8 years in office, when the national debt grew from $.9 trillion to $2.7 trillion - an increase of $1.8 trillion - that means that nearly 67% of the national debt built up since the nation began occurred during Reagan's eight years of trickle down.

Putting in perspective George W. Bush's 8 years in office, when the national debt grew from $5.7 trillion to $10.6 trillion - an increase of $4.9 trillion - that means that nearly 46% of the national debt built up since the nation began occurred during Bush's eight years of trickle down.

It’s not just a spending problem – it’s also a revenue problem. It was already a crisis when those now pushing for austerity to avoid even small tax increases insisted that “deficits don’t matter”.

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