Where'd That Hole Come From?

EricByler | Cost of Bush Tax Cuts Continues to Grow — Deficits Happen When We Decide Not to Pay for Our Government, i.e. 2001 | Coffee Party

The 2000 Presidential campaign included a fight over what to do with the budget surplus — that's right surplus, not deficit, surplus, we had a surplus only 11 years ago. Since then, our government has grown, yes, we know about that (see chart below). But more importantly, we decided in 2001, and every year since then, not to pay for the growth of our government.  This decision is popularly known as the Bush Tax Cuts...