Quote:
Originally Posted by JohnnyD
Increasing deficits and debt with no real outlook at how the debts are going to be paid are what caused the collapse of the financial sector and, as I stated earlier, is how the Iraq War/Tax Cuts relationship was a major contributing factor to our current economic state.
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Wasn't "the economy" doing quite well before the collapse of the financial sector? And wasn't the Government debt as a percentage of GDP, at the time, not historically high? And wasn't the economy that produced high tax revenues partially due to the Bush tax cuts? Wasn't, thus, the Government operating on relatively sound fiscal policy until the financial sector crash (which had nothing to do with tax cuts or the Iraq war)?