60 minutes | Sep 16th 2011

YSL.... As We Remember.....

September, 10 2011 Glen Hubbard, does that name ring a bell to anyone?, he was the chief economist in the George W. Bush tax cuts in 2001. President Clinton had turned over to the Republicans a 100 billion dollar surplus in 2001. The United States was on track to have no dept. in 10 years…Bush upon being elected signed into law in June of 2001 a 1.3 trillion dollars’ worth of tax cuts (that was before 9/11 happen) and then 9/11 happened and the United States went to war in a big global way in Afghanistan undoing the 100 billion surplus ----there is a wisdom here that perhaps the physical responsible thing to do here was to stop the Bush tax cuts to pay for the war but of course that didn’t happen ….Then in March of 2003 the US went to war with Iraq and we kept the tax cuts and two months later the Bush administration entered into a 300 billion Dollar tax cut with two wars going on and no way to pay for them.
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