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Discussion Starter #1
http://www.youtube.com/watch?v=LcvLHHMC4iI

Decent video, it doesn't tell the entire story since it stops at 2011. But gives an idea. Also I wouldn't blame it all on Bush since it was Greenspan who said to cut taxes or create more programs since it was dangerous territory for the gov't to have surplus. But W went ahead and gave tax cuts, added programs and started 1 war(Iraq--Afghanistan was a needed response after 9-11).




I believe, as I have noted in the past, that the federal government should eschew private asset accumulation because it would be exceptionally difficult to insulate the government's investment decisions from political pressures. Thus, over time, having the federal government hold significant amounts of private assets would risk sub-optimal performance by our capital markets, diminished economic efficiency, and lower overall standards of living than would be achieved otherwise.
In general, as I have testified previously, if long-term fiscal stability is the criterion, it is far better, in my judgment, that the surpluses be lowered by tax reductions than by spending increases.
http://www.federalreserve.gov/boarddocs/testimony/2001/20010125/default.htm
 

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Discussion Starter #3
Umm, the video was about deficits and debt.
 

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Discussion Starter #7
That's awesome. So I suppose that's where the other 15% of the deficit/debt issues comes from, since about 85% of it was the result of the current deficit hawks, previous positions.
 
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