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That was also an exceptional time where the USA was benefiting from a huge one-time windfall, i.e. the end of the Cold War and commensurate reduction of the big
by ElfinTrousers 4y ago
That was also an exceptional time where the USA was benefiting from a huge one-time windfall, i.e. the end of the Cold War and commensurate reduction of the biggest line item in the US budget (the military).
- taylodl 4y agoThe Cold War never resumed, so it wasn't a "one-time" windfall. It was Bush Jr.'s foolhardiness to cut taxes AND wage two wars simultaneously that eliminated the surplus and sent the deficit soaring.
- esarbe 4y agoAlong with both parties in congress. The tax cuts were later extended. There were very few sane minds at the time in the US.
- ElfinTrousers 4y agoYes, they came up with one of the great all-time thoughtstoppers in that time: "You're either with us, or with the terrorists".