"The great thing about our system is that its the consumer that drives our system, its the individual Americans and their collection that end up driving the economy." - George Bush July 15, 2008
The Bush administration added 4.9 trillion to the U.S. Federal debt through tax cuts to the wealthy that ended up in China and other emerging economies as investments, and crashed the U.S. economy in the process.
During the months leading to the tax cuts of 6/1/2001 the monthly average was a surplus of 3 billion. Immediately after the tax cuts the surpluses turned into deficits of an average of 36 and this is before 911.
November 2, 2000 U.S. elections U.S. debt = 5,691,725,335,190.51
January 20, 2009 Presidential Inauguration U.S. debt = 10,626,877,048,913.08 When you do the math it adds up to 4.9 trillion added by the Bush administration.
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