Originally Posted by Bayz101
You mean we are not running a surplus after the 2001 tax cuts were passed
President Bush said Saturday that the most important number in the budget he sends to Congress next week is the $5.6 trillion surplus it projects over the next 10 years.
That huge projected surplus provides the underpinning of all the administration's tax-cut and spending plans, Mr. Bush said in his recorded weekly radio address.
"A surplus in tax revenue, after all, means that taxpayers have been overcharged," the president said. "And usually when you've been overcharged, you expect to get something back." The surplus figure "counts more than any other" in the budget, he said.
In January 2001, the CBO projected that the federal government would erase its debt in 2006 and, by 2011, the U.S. government would be $2.3 trillion in the black. The reality, of course, has turned out to be far different.
Those were the days - lose the underpinnings but keep the tax cuts
Any party that controlled the Congress and Presidency and put 2 wars + Medicare Part D on the credit card while refusing to budge on the 2001 tax cuts should have a steaming cup of STFU when it comes to lecturing anybody about fiscal responsibility