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Author: sykesix Big gold star, 5000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 59871  
Subject: Re: Surowiecki on Soc Sec, Medicare Date: 2/3/2013 5:32 PM
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Bush's major policy initiatives were $4 Trillion in tax cuts which largely benefited the rich, and $3 Trillion spent on expensive and embarrassing misadventures in Iraq and Afghanistan, all funded by borrowing from China.

If we still had that $7 trillion (plus interest), Social Security and Medicare would be in a lot better shape. The last election showed that a majority of Americans reject the Republican Chickenhawk and GOP Tea-Bagger agenda.


It is even worse than that. In addition to the sunk costs, At the beginning of 2000 the budget surplus was sufficiently large that by 2009 the federal debt would have been virtually wiped out and the cost of debt service would be almost zero:

http://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/10xx...

The cost of debt service is something like $500 billion a year and will only increase. If we didn't have to pay that interest then the nation's financial problems basically go away.

We'll never know what would have happened, but it is clear that Bush and the rest of the flim-flam artists squandered the opportunity of generation in exchange for a coke fueled orgy of new spending and tax cuts for the wealthy.

The crazy part they can't be content with simply screwing over the country. They want the pain for their disgusting behavior to come out of the hides of working people. The really crazy part is that some working people seem fine with this.

One of the greatest, if not the greatest, flim-flam jobs in history. You know you are dealing with real pros when the mark doesn't realize he's been had.
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