Thursday, July 07, 2011

Stiglitz on how tax cuts, wars, recession and health care bankrupted the country

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FTA: "A decade ago, in the midst of an economic boom, the United States faced a surplus so large that it threatened to eliminate the national debt. Unaffordable tax cuts and wars, a major recession, and soaring health care costs—fueled in part by the commitment of George W. Bush's administration to giving drug companies free rein in setting prices, even with government money at stake—quickly transformed a huge surplus into record peacetime deficits."

Yep, it all comes down to GWB's incompetence and disregard for all things economical when it comes to "gubmint".

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