Exactly.
Cutting taxes while engaging in two war and greatly increasing spending for domestic programs led to a MASSIVE budget gap which created the problem we have now.
People need to admit the obvious.
So, in your world of Keynesian economics, pro-growth tax cuts don't stimulate economic growth, and economic growth doesn't increase revenue to the fedgov? Huh?
Reagan's tax cuts set our economy on a growth curve that even BJ Clinton got to ride to two terms. Under Reagan, revenue to the fedgov doubled. That's pretty incredible, especially when you consider the massiveness of his tax cuts, don't you think? Unfortunately, democrats in Congress couldn't control their spending.....as per usual.
Don't you think all of this makes a great case for making government as small and inconsequential as possible?
The reason we have massive deficits today is because the economy is sucking wind. Our deficits skyrocketed, as you call it, when the economy went south. The problem is your guy, Obama, doesn't have any idea what the role of government should be to achieve economic growth. Democrats have no idea how to make an economy grow because they are all a bunch of idiots and anti-capitalists. That's why change is coming in November. I choose Bain Capital over Das Kapital. What's your preference?
Taxes were not “lowered”, tax rates were. Learn the difference.
Lower tax rates create more taxable income and more revenue and is proven since Coolidge, Kennedy, Reagan and GW Bush.
Heck, isn’t that lesson even in the Bible?
Besides, even the CBO (useless organization) says increasing tax rates on upper incomes would bring in maybe $180 billion more a year (if you use stupid static analysis that only morons use) and that is nothing when the spending is out of control.
You sound like a stupid Dem that proposes a “balanced approach” of $10 in spending cuts and $1 in tax increases. Why? Why not just make $9 in cuts? It’s the same.
And, of course, history proves with the Dems that you get the tax increases first, fold them into the baseline budget and spend 110% of them and never “cut” anything since DC calls a “cut” a decrease in the increase and they lie.
Go back to DU.