Enormous tax breaks for the wealthy did threaten our solvency. Income of those at the top went up substantially, with no corresponding gain for those lower in the income distribution. Cutting taxes for the highest earners did not generate trickle-down economic growth and those cuts contributed to the stunning increase in income inequality.
We did blow up the deficit by invading Iraq. W did not pay for the Iraq war and kicked it to the next president who pulled us out of recession, controlled the deficit, but drove us further into debt.
Clinton did leave us with a balanced budget and erased the federal deficit. It did not take long for Bush’s unfettered spending to run up our deficit again.The Democrats were concerned about the debt ceiling, but not to make political points: “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.” – Obama
If you are wondering what Sorensen is trying to say: Trump is suggestion Tax cuts to the wealthy, invading countries and spending recklessly. Will we raise the debt ceiling, or shut down government?
Enormous tax breaks for the wealthy did threaten our solvency. Income of those at the top went up substantially, with no corresponding gain for those lower in the income distribution. Cutting taxes for the highest earners did not generate trickle-down economic growth and those cuts contributed to the stunning increase in income inequality.
We did blow up the deficit by invading Iraq. W did not pay for the Iraq war and kicked it to the next president who pulled us out of recession, controlled the deficit, but drove us further into debt.
Clinton did leave us with a balanced budget and erased the federal deficit. It did not take long for Bush’s unfettered spending to run up our deficit again.The Democrats were concerned about the debt ceiling, but not to make political points: “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.” – Obama
If you are wondering what Sorensen is trying to say: Trump is suggestion Tax cuts to the wealthy, invading countries and spending recklessly. Will we raise the debt ceiling, or shut down government?