George W. Bush’s deficit

Here’s a nice little article on how a big chunk of our federal budget deficit and debt problems came from the Republicans.

Of course, I’m not happy that the Obama administration is having to run up huge, new deficits. But the real question is how long will these deficits go on. It’s appropriate for government to run deficits when times are tough, but it has to be balanced by running surpluses and paying off debts when times are good. That’s what President Clinton did, after all. The recent Republicans did the exact opposite.

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