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Originally Posted by DeepIron
The Bush Administration has pretty much emptied the coffers with uncontrolled spending over the last 8 years. What had started as a "surplus" back in 2000 is now a huge, multi-trillion dollar deficit."
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A couple of points:
1. Bush hasn't spent a dime that Congress didn't appropriate for him to spend, and the last two annual budgets were created by the Democrats.
2. That Y2K "surplus" was based on completely unrealistic tax revenue PROJECTIONS that were never going to be realized. This was done by the Clinton administration in order to make their party look good in the coming elections. As soon as the Repubs took over and reality set in that surplus vanished into the thin air it came from.