What's really caused our national debt?

Posted on Friday, June 03, 2011 at 10:11 AM

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This graph comes straight from the Center on Budget and Policy Priorities and it spells out - for anyone who's still wondering at this point - that the Bush era tax cuts and wars in Iraq and Afghanistan will account for nearly half of Americas public debt by 2019.

Remember that Paul Ryan’s GOP budget to lower the federal deficit has seniors justifiably worried that Medicare as we know will cease to exist not only for them but for future generations.

Remember that his colleagues in the GOP have railed against Social Security and every other social program in the nation as the true cause of the National Debt.

Then take a good look at this chart and read what's really caused it: the Bush tax cuts and two endless wars.

Perhaps if we taxed corporations fairly, asked the rich to pay their share - and brought these wars to a close - we might finally get the fiscally responsible government the GOP would like to be, rather than the one they are?

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jamthecat | Jun 03, 2011, 06:42 PM EDT

The problem is, the facts have this nasty liberal bias so the people who support the GOP have no interest in them. God, himself, could come down here and point out that everything on that chart is absolutely true and that Bush squandered a chance to pay off our debt in order to give his rich buddies super tax cuts...and they claim God is part of the conspiracy. Because all that matters is what they BELIEVE...and if they BELIEVE it, then there can be no facts to the contrary. Look at the silly...no, downright ludicrous arguments people like John5319 and FastEddy and Jacke47 are making. It's all so absurd and childish and self-destructive, it's diseased. But their "reality" is not the same as a normal sane person's, nor will it ever be.

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John5319 | Jun 03, 2011, 05:31 PM EDT

Total BS lies & deceit. The Center on Budget and Policy Priorities, from where this graph comes from, is funded by the Democracy Alliance which is funded by global Socialist George Soros. The writer of this article KNOWS that, and is trying to deceive the ignorant who CHOOSE NOT TO connect the dots of manipulation. My last response was "censored out" with all the relevant facts, and Internet fact trails of Truth. I know what I'm dealing with do YOU ??

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FastEddy | Jun 03, 2011, 01:57 PM EDT

Total BS ... Remember, Reagan's tax cuts reversed g'ment revenue trends to the positive in 1986. Next time you diss capitalism with fascist drivel re: "tax cuts", think about where those excessive tax revenues originate and stop pumping up the taxsuckers.

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hollabackgurl | Jun 03, 2011, 01:24 PM EDT

The GOP likes to talk a big game about the need to give tax breaks to the rich to protect our economy. They pilfer the public purse to pay for it. The result: the rich get richer with no change in the status of the working poor. The saps pay for Wall Streets hangovers. Then they vote for politicians who will keep them paying.

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jacke47 | Jun 03, 2011, 12:43 PM EDT

The proposed tax increase to the rich, so-called millionaires and billionaires, that the left wants to impose also includes those who earn $250K-small business owners who are the top employees in the US. Get real and state the facts-not colored pictures...

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seanfer7 | Jun 03, 2011, 11:53 AM EDT

Well Ben Ledin sceared america and it went into a panick mode. Watching the borders while the banks mortgage and brokages robbed us blind. derivities held by AIG caused Paulson to bail out his boys. This cause eight million hard workers to lose their jobs while bankers country club around. The repubnates want to attack social sevices. Greed begates greed. America has seen it best days.

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pndirishandprou | Jun 03, 2011, 11:31 AM EDT

Excellent chart. Republicans want us to believe that tax cuts for the rich are a good thing for the national budget. Most millionaires have a lower effective tax rate than average earners. Warren Buffet and other billionaires have a tax rate of under 20%. Republicans are fighting tooth and nail for billionaires to keep the myriad of tax loopholes available to them now. Goes to show on which side the GOP is on.

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