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AP Claims Bush Tax Cuts Caused National Debt to Grow by $1.6 Trillion
Newbussters.org ^ | July 17, 2011 | 15:43 | Tom Blumer |

Posted on 07/18/2011 1:34:06 PM PDT by Dubya-M-DeesWent2SyriaStupid!

In an unbylined update of the latest developments in the budget-tax-spending-debt ceiling discussions in Washington this morning, the Associated Press committed several blunders in attempting to explain what's going on and how we got to where we are. First and foremost was its list identifying "contributors" to the $8.5 trillion growth in the national debt since 2001.

Here's the AP's you-can't make-this-up, Comedy Central-worthy list of debt contributors:

Q: How did the debt grow from $5.8 trillion in 2001 to its current $14.3 trillion?

A: The biggest contributors to the nearly $9 trillion increase over a decade were:

- 2001 and 2003 tax cuts under President George W. Bush: $1.6 trillion.

- Additional interest costs: $1.4 trillion.
- Wars in Iraq and Afghanistan: $1.3 trillion.
- Economic stimulus package under Obama: $800 billion.
- 2010 tax cuts (these weren't cuts at all; they were really a continuation of the current income tax structure -- Ed.), a compromise by Obama and Republicans that extended jobless benefits and cut payroll taxes: $400 billion.
- 2003 creation of Medicare's prescription drug benefit: $300 billion.
- 2008 financial industry bailout: $200 billion.
- Hundreds of billions less in revenue than expected since the Great Recession began in December 2007.
- Other spending increases in domestic, farm and defense programs, adding lesser amounts.

So I guess the AP's assertion that the Bush tax cuts were the biggest contributor to the deficit explains why the following graph shows how government collections tanked from 2003-2007:


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: ap; aplies4obama; blames; bush; medalies4obama; mediabias; mediabias4obama; mediaspin

1 posted on 07/18/2011 1:34:19 PM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: Dubya-M-DeesWent2SyriaStupid!

Then how come it was so essential to preserve them last December?


2 posted on 07/18/2011 1:37:11 PM PDT by Arm_Bears (I'll have what the gentleman on the floor is drinking.)
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To: Dubya-M-DeesWent2SyriaStupid!

Is it true it’s all Bush’s fault?


3 posted on 07/18/2011 1:37:17 PM PDT by The_Media_never_lie
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To: The_Media_never_lie

Yep. According to the SOCIALIST and COMMUNIST crowd, we got to keep more of our hard earned money, so THAT’S WHY the Government now has a debt problem!


4 posted on 07/18/2011 1:40:31 PM PDT by The Bronze Titan
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To: Dubya-M-DeesWent2SyriaStupid!

what a great meme. why did it take them so long to haul it out, because its so obviously that?


5 posted on 07/18/2011 1:41:45 PM PDT by the invisib1e hand ("America will cease to be great when America ceases to be good." -- Welcome to deToqueville.)
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To: Dubya-M-DeesWent2SyriaStupid!

Yes, but...

Those cuts also “created or saved” trillions in other revenue during that period.


6 posted on 07/18/2011 1:44:43 PM PDT by BuddhaBrown (Path to enlightenment: Four right turns, then go straight until you see the Light!)
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To: Dubya-M-DeesWent2SyriaStupid!
The Newsbusters article goes on to prove that federal income rose a total of 44% during the initial Bush tax cut era (2001-2008) rendering the AP claim that the 'Bush tax cuts' (actually just a continuation of then-current tax rates)'caused' the national debt to grow by 1.6 trillion dollars. The transparent attempt to (a) blame Bush and, (b) shield Obama's spending as the real cause of the deficit is pathetic, predictable and, sadly, will probably be swallowed whole by some folks, present company excepted.
7 posted on 07/18/2011 1:45:41 PM PDT by Jim Scott ( "Game On!" - Sarah Palin)
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To: Dubya-M-DeesWent2SyriaStupid!

I see some creative math headed our way. A little fuzzy math and I’m sure Obama will claimed to have actually “saved’ money during his years in office. Just watch...


8 posted on 07/18/2011 1:45:45 PM PDT by marstegreg
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To: The Bronze Titan

Stupid leftist counterfactual theory of causation arguments! This is totally like saying Obama saved us from another Great Depression.

When the tax rates were lowered, they closed loopholes that maintained the historical 18-19% GDP to revenue ratio.


9 posted on 07/18/2011 1:47:51 PM PDT by griswold3 (Character is Destiny)
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To: The_Media_never_lie

Wellllllll....NO. Not since $3 trillion or more dollars of debt has been run up in less than 24 months...at a time when we’re short 24 MILLION + taxpayers. And consider that Bush’s $4 trillion of added debt was consumed in 8 years, not 24 months.

And since we’re considering, we need to consider that this shortage of taxpayers began (to the tune of 750,000 employees/month) when the commiecrats took both houses in 2007 and started expanding every commiecrat entitlement welfare program on the books when the country was totally BROKE!...and employers are STILL schluffing off jobs.


10 posted on 07/18/2011 1:48:49 PM PDT by RowdyFFC
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To: Dubya-M-DeesWent2SyriaStupid!
That's the standard Democrat line on the extension of "the Bush tax-cuts."

They aren't honest enough to admit that there was no money to spend and the "deficit contribution" of the "tax-cuts" was one of expectations.

Liberals and Democrats were expecting to have all of that money available to spend and the fact that it isn't available is what caused the "deficit contribution" of "the Bush Tax-cut extensions." It never occurs to them not to spend the money they allocated based upon their expectations

It's exactly like expecting a raise and going out and putting a large down payment on a boat. You don't get the raise you were expecting and instead of dropping the purchase, you go ahead and make it anyway and then complain about not getting the raise.

That, in a nut-shell, is liberal economics.
11 posted on 07/18/2011 1:49:05 PM PDT by Sudetenland (There can be no freedom without God--What man gives, man can take away.)
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To: Dubya-M-DeesWent2SyriaStupid!

Revenue increased due to the 2003 tax cuts.

2003 revenue: $1.78 trillion
2006 revenue $2.4 trillion

The AP “forgot” to add in the increased revenue due to the tax cuts.


12 posted on 07/18/2011 1:49:32 PM PDT by avacado
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To: Arm_Bears

“Big Lie” from Wikipedia:

The expression was coined by Adolf Hitler, when he dictated his 1925 book Mein Kampf, for a lie so “colossal” that no one would believe that someone “could have the impudence to distort the truth so infamously.”


13 posted on 07/18/2011 1:50:10 PM PDT by haroldeveryman
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To: The_Media_never_lie

14 posted on 07/18/2011 1:51:05 PM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: The_Media_never_lie

15 posted on 07/18/2011 1:51:29 PM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: Dubya-M-DeesWent2SyriaStupid!

http://keithhennessey.com/2010/11/18/president-george-w-bushs-spending-record/

The undisputed facts are:

Average federal spending was a smaller share of the economy during the George W. Bush administration than during each of the Clinton, George H.W. Bush, and Reagan administrations.

The same is true for taxes. Average federal taxes were a smaller share of the economy under our 43rd President than under our 40th, 41st, or 42nd.
Of the four, President Clinton’s deficits were smallest, almost entirely because his revenues were highest. President George W. Bush had the second-smallest deficits of the four.

The budget deficit during President Bush’s tenure averaged two percent, below the fifty-year average of three percent.

My conclusions: Relative to the economy, the federal government was smaller during the Bush Administration than under any of its three predecessors, and his deficits were small by historic standards.


16 posted on 07/18/2011 1:52:55 PM PDT by woofie
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To: Dubya-M-DeesWent2SyriaStupid!

‘AP’ a leftist manure spreader.


17 posted on 07/18/2011 1:53:49 PM PDT by A. Morgan (Ayn Rand: "You can avoid reality, but you cannot avoid the consequences of avoiding reality.")
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To: Dubya-M-DeesWent2SyriaStupid!

Of the many things GW did that I did not agree with, the tax cuts were not one of them. It’s not the governments money.
Got Galt?

Bush Tax Cuts: President George W. Bush’s 2003 tax cuts generated a massive increase in federal tax revenue and were followed by 52 consecutive months of economic growth. From 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history. Total federal revenue from 2003 to 2007:

2003 — $1.78 trillion

2004 — $1.88 trillion

2005 — $2.15 trillion

2006 — $2.40 trillion

2007 — $2.56 trillion

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. During the same period, income tax revenue rose dramatically, going from $925 billion in 2003 to $1.53 trillion in 2007. As with other types of federal revenue, income tax revenue dropped slightly in 2008, down to $1.45 trillion, due to the fact that a recession began that year.


18 posted on 07/18/2011 1:57:00 PM PDT by griswold3 (Character is Destiny)
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To: Dubya-M-DeesWent2SyriaStupid!

It’s called cognitive dissonance. Even their own graph disproves their point, but facts that counter their world view simply do not register with them...


19 posted on 07/18/2011 1:58:02 PM PDT by piytar (The Obama Depression. Say it early, say it often. Why? Because it's TRUE.)
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To: A. Morgan
When is someone going to take on the leftists at al-AP?
20 posted on 07/18/2011 1:58:57 PM PDT by LeonardFMason
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To: A. Morgan; The_Media_never_lie

21 posted on 07/18/2011 2:04:51 PM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: Dubya-M-DeesWent2SyriaStupid!

Yeah, my wife’s uncle sent me the AP numbers verbatim. They are the gospel, everything else is lies, nothing but lies according to him.

I can’t believe an intelligent, well educated (in the hard sciences no less) person can be so damn ignorant and ill informed.

This guy has forgotten more higher level math than I ever knew. Yet he completely believes the Dem’s budget lies.

Ideology trumps facts every time with these people.


22 posted on 07/18/2011 2:07:47 PM PDT by ChildOfThe60s ( If you can remember the 60s....you weren't really there)
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To: piytar

Dems are hilarious.


23 posted on 07/18/2011 2:12:59 PM PDT by corlorde (New Hampshire)
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To: Dubya-M-DeesWent2SyriaStupid!

They don’t have to byline Hussein’s lies any longer. It would kind of make them unwelcome to say their God told them so.

What a bunch of “Morans” (so to speak.)


24 posted on 07/18/2011 2:13:54 PM PDT by Steamburg (The contents of your wallet is the only language Politicians understand.)
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To: ChildOfThe60s
Send him this articles link and this


25 posted on 07/18/2011 2:15:23 PM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: Dubya-M-DeesWent2SyriaStupid!

The AP huh.............They are becoming irrelevant.


26 posted on 07/18/2011 2:16:03 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: Dubya-M-DeesWent2SyriaStupid!

Let’s see how many folks tell you that 5.6 plus 9.9 is larger than 14.5, ha ha ha ha ha.


27 posted on 07/18/2011 2:17:09 PM PDT by aruanan
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To: The_Media_never_lie

2003 creation of Medicare’s prescription drug benefit: $300 billion.

well... THIS is Bush’s fault!


28 posted on 07/18/2011 2:24:01 PM PDT by TexasFreeper2009 (Obama = Epic Fail)
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To: avacado

The level of constant lies from the media is disturbing. How free can we be with morons sitting around soaking in these lies and having it confirmed with John Stewart.

A liberal friend of mine constantly links to John Stewart as a news source...lmao.


29 posted on 07/18/2011 2:29:53 PM PDT by rbmillerjr (Hannity is a moron. Done with him. Casey...watch out for Karma you murderous sociopath.)
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To: griswold3
Bush Tax Cuts: President George W. Bush’s 2003 tax cuts generated a massive increase in federal tax revenue and were followed by 52 consecutive months of economic growth. From 2004 to 2007, federal tax revenue increased by $780 billion

You can force feed these numbers down their throats and they still insist we could have generated "more" revenue by higher taxes. This is probably the thing I despise the most about liberals. They can't fathom the fact that taxpayers will alter their behavior based on tax rates and revenue suffers when the government tries to squeeze more capital from the tax base. It's annoying as hell.
30 posted on 07/18/2011 2:33:23 PM PDT by nonamer
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To: Dubya-M-DeesWent2SyriaStupid!

The Bush Tax Cut were one of several reasons we recovered from the Tech Bubble Recession. Higher taxes and increased regulation will be the reason the Housing Recession is becoming the Obama Depression.


31 posted on 07/18/2011 2:38:50 PM PDT by JimSEA
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To: Dubya-M-DeesWent2SyriaStupid!
Hockey puck. The Bush tax cuts created 1.9 million private sector jobs; more jobs equals increased revenue for the feds.

The increased debt was a direct result of additional spending much in the form of entitlements. But the AP knows that, they just want keep it from the increasingly stupid masses.

32 posted on 07/18/2011 2:40:12 PM PDT by South40 (Palin/Cain 2012!)
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To: nonamer

Being from Ohio and a small business owner, the conversation between Joe the plumber and Barack Obama caused me to pull in my horns and prepare for ‘Hurricane Obama’.
I’d have felt foolish if I had prepared in vain. But so far, I’ve been vindicated by current economic conditions.


33 posted on 07/18/2011 3:03:23 PM PDT by griswold3 (Character is Destiny)
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To: The_Media_never_lie

In the proposed 2011 budget, the White House defensively attacks the “irresponsibility of past” deficits. For example, the 2009 budget deficit of $1.4 trillion is blamed on the George W. Bush administration as if President Obama’s $862 billion stimulus package and more than $400 billion supplemental spending bill had nothing to do with it. Mr. Obama’s planned 2010 budget deficit rises to an even higher record level of $1.6 trillion. By comparison, all of Mr. Bush’s deficits from 2002 to 2008 - the seven years during which his team had the most control over the budget - produced a combined deficit of $2.1 trillion.

http://www.washingtontimes.com/news/2010/feb/08/a-deficit-avalanche/

...much of the debt problem IS Bush’s fault, just not MOST of it.


34 posted on 07/18/2011 3:07:22 PM PDT by WOBBLY BOB ( "I don't want the majority if we don't stand for something"- Jim Demint)
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To: Dubya-M-DeesWent2SyriaStupid!

The Bush Tax Cuts and the Deficit Myth —

Runaway government spending, not declining tax revenues, is the reason the U.S. faces dramatic budget shortfalls for years to come.

With Washington set to tax $33 trillion and spend $46 trillion over the next decade, how does one determine which policies “caused” the $13 trillion deficit? Mr. Obama could have just as easily singled out Social Security ($9.2 trillion over 10 years), antipoverty programs ($7 trillion), other Medicare spending ($5.4 trillion), net interest on the debt ($6.1 trillion), or nondefense discretionary spending ($7.5 trillion).

There’s no legitimate reason to single out the $4.7 trillion in tax cuts, war funding and the Medicare drug entitlement. A better methodology would focus on which programs are expanding and pushing the next decade’s deficit up.

Entitlements and other obligations are driving the deficits. Specifically, Social Security, Medicare, Medicaid and net interest costs are projected to rise by 5.4% of GDP between 2008 and 2020. The Bush tax cuts are a convenient scapegoat for past and future budget woes. But it is the dramatic upward arc of federal spending that is the root of the problem.

http://online.wsj.com/article/SB10001424052748704738404575347302831199046.html?mod=WSJ_Opinion_LEADTop


35 posted on 07/18/2011 3:09:38 PM PDT by WOBBLY BOB ( "I don't want the majority if we don't stand for something"- Jim Demint)
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To: Dubya-M-DeesWent2SyriaStupid!; Grampa Dave; tubebender; hedgetrimmer; forester; calcowgirl; ...
Then it all happened from the 2006 election of house and senate control by Reid and Pelosi. Their election helped trigger the 2008 panic that panicked Bush into the outrageous "TARP" that never went to any "troubled assets!"

What a farce this article is. Just like man induced global warming!!!

36 posted on 07/18/2011 3:39:49 PM PDT by SierraWasp (I'm done being disappointed by "He/She is the only one who can win" and being embarrassed later!!!)
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To: SierraWasp

AP... Written by the zombies of the O’bummer 2012 reelection sewer


37 posted on 07/18/2011 4:34:27 PM PDT by tubebender (The voices in my head may not be real, but they have some very good ideas)
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To: tubebender

Some idiot non poli junkie may read it and believe it; that’s what they are counting on.


38 posted on 07/18/2011 8:09:05 PM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: Dubya-M-DeesWent2SyriaStupid!

Did they mention the 43% increase in federal spending that has occurred since Democrats took control of Congress in 2007?


39 posted on 07/18/2011 8:13:42 PM PDT by Hoodat (Yet in all these things we are more than conquerors through Him who loved us. - (Rom 8:37))
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To: tubebender

You know it, tubular bender!!!


40 posted on 07/18/2011 8:57:15 PM PDT by SierraWasp (I'm done being disappointed by "He/She is the only one who can win" and being embarrassed later!!!)
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To: SierraWasp

It is frightening how the media lie for him.


41 posted on 07/18/2011 10:21:26 PM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: Hoodat

They always seem to miss that...lol.


42 posted on 07/26/2011 9:12:39 AM PDT by rbmillerjr (Hannity is a moron. Done with him. Casey...watch out for Karma you murderous sociopath.)
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