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|Subject: Re: Facts are stubborn things||Date: 11/29/2012 1:16 PM|
|Author: jerryab||Number: 1840982 of 2122205|
So let's set to rest the rather silly notion that "It's all the tax cuts' fault". That's crap. The BTCs "Cost" $1.5T/8 = just short of $200 billion a year.
Hmmm, my arithmetic is not that complicated.
"President Bush instituted two big tax cuts, one in 2001 and another in 2003. The first was implemented amid rosy predictions of a 10-year, $5.6 trillion surplus"
Projected outcome with tax cuts: $5.6+T surplus.
Actual outcome with tax cuts...: $1.3+T deficit (2011 FY)
You are paying the difference in cash, right?
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