Another myth that I get tired of hearing about is that the Bush tax cuts caused the deficit that started the economic downturn - the deficit began in the early 2000’s because of three factors - the end of the Clinton bubble-bust (remember the collapse of the stock market in 2000), 9/11 which crippled the economy, and the need to rebuild our defenses after Clinton weakened them by spending the vaunted “Peace Dividend” on domestic doodads. The deficit grew to about 500 billion in 2003, but then thanks to the increase in government revenues because of the Bush tax cuts, shrank by about 100 billion per year for the next four years, even though the government was fighting two wars and instituted the new Medicare drug program during the period. The deficit would have disappeared completely in 2008, but of course the economy went south by that time because of the Democrat created housing bust - Bush’s tax cuts strengthened our finances, no matter how much the lefties protest to the contrary.....
” the Democrat created housing bust”
Please. Bubbles collapse because of their inherent instability. No one created the bust, unless you want to finger the culprits who allowed the bubble to grow in the first place. And both parties were filled with cheerleaders for giving everyone a home. Find a copy of Dubya’s 2003 speech to HUD promoting the American Dream Downpayment Initiative.