kolanuraven
Well-known member
"President Bush inherited a budget surplus of $128 billion when he took office in 2001 but has since posted a budget deficit every year.
The Bush administration has spent heavily on the wars in Iraq and Afghanistan, and faces a large budget shortfall in tax revenue because of Bush's tax cuts and a souring economy.
A Democratic point man on the budget, Sen. Kent Conrad of North Dakota, blasted the administration for its "reckless fiscal policies," blaming the president's tax cuts for driving the government into deficit and saying Bush "will be remembered as the most fiscally irresponsible president in our nation's history."
If they gave out Olympic medals for fiscal irresponsibility, President Bush would take the gold, silver and bronze," Conrad said. "With his eight years in office, he will have had the five highest deficits ever recorded. And the highest of those deficits is now projected to come in 2009, as he leaves office."
http://www.cnn.com/2008/POLITICS/07/28/2009.deficit/index.html
The Bush administration has spent heavily on the wars in Iraq and Afghanistan, and faces a large budget shortfall in tax revenue because of Bush's tax cuts and a souring economy.
A Democratic point man on the budget, Sen. Kent Conrad of North Dakota, blasted the administration for its "reckless fiscal policies," blaming the president's tax cuts for driving the government into deficit and saying Bush "will be remembered as the most fiscally irresponsible president in our nation's history."
If they gave out Olympic medals for fiscal irresponsibility, President Bush would take the gold, silver and bronze," Conrad said. "With his eight years in office, he will have had the five highest deficits ever recorded. And the highest of those deficits is now projected to come in 2009, as he leaves office."
http://www.cnn.com/2008/POLITICS/07/28/2009.deficit/index.html