Wednesday, April 13, 2011

Infamous Words? In 2001 Bush Promised the National Debt Would Be Paid Off in 10 Years

Ah, those were the days.  When we blindly listened to a supply-side president who actually believed his own rhetoric and promised the national debt would be gone in 10 years. I didn't believe it then and I was right.  The Bush years and tax cuts have put us where we are today.  Here is the man in his own words:
"My budget has funded a responsible increase in our ongoing operations. It has funded our Nation’s important priorities. It has protected Social Security and Medicare. And our surpluses are big enough that there is still money left over.

Many of you have talked about the need to pay down our national debt. I listened, and I agree. We owe it to our children and our grandchildren to act now, and I hope you will join me to pay down $2 trillion in debt during the next 10 years. At the end of those 10 years, we will have paid down all the debt that is available to retire. That is more debt repaid more quickly than has ever been repaid by any nation at any time in history."
Yeah, right!

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