With President Obama and Republican leaders calling for cutting the budget by trillions over the next 10 years, it is worth asking how we got here — from healthy surpluses at the end of the Clinton era, and the promise of future surpluses, to nine straight years of deficits, including the $1.3 trillion shortfall in 2010. The answer is largely the Bush-era tax cuts, war spending in Iraq and Afghanistan, and recessions.It's a factual statement. It's been repeated ad nauseum. It has no effect on the American right's philosophic depedence on cutting unrelated government priorities.
Sunday, July 24, 2011
The New York Times has recommitted itself to providing the context for the debt-ceiling crisis with a helpful infographic and article. How did the deficit get so big?