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It really is mostly that, plus the wars. The first round of cuts came at about the same time we started the wars, LOL. The political line was that the tax cuts
by alabastervlog 2y ago
It really is mostly that, plus the wars. The first round of cuts came at about the same time we started the wars, LOL. The political line was that the tax cuts and (some fucking how) the wars would "pay for themselves" but the CBO was like "um, no, here is approximately how many trillions this will add to the debt" and gee, the latter turned out to be way, way closer to correct.
Now, of course, we also have the interest on all that new debt to worry about.
[EDIT] To be clear, the Democrats are also to blame for carrying on with the tax cuts, sometimes actively, when they had opportunities to end them.
- geodel 2y agoNo it is not. It was possible when economy was growing like > 10% for decades. As soon as that stopped people will look for cuts and tax cuts is just obvious place.