this post was submitted on 22 Oct 2023
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$10 Trillion in Added US Debt Since 2001 Shows 'Bush and Trump Tax Cuts Broke Our Modern Tax Structure' (www.commondreams.org)
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"In their blind loyalty to their mega-donors, Republicans' fixation on giant tax cuts for billionaires has created a revenue problem that is driving up our national debt," said Sen. Sheldon Whitehouse in response to new Treasury Department figures.

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[–] ChickenLadyLovesLife 3 points 1 year ago

It's worth adding that for the last two years of Clinton's Presidency, the US actually had a budget surplus. The talk heading into the 2000 election cycle was about what we were going to do with this surplus. Had that trend continued we could have been debt-free as a nation - but instead we got more "fiscal conservatism". Or as Dick Cheney put it: "Reagan proved that deficits don't matter".