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View Diary: Ten years of borrowing paid for the Bush tax cuts (83 comments)

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  •  In 1981, Reagan's "Laffer Curve" was... (3+ / 0-)

    ...not only going to pay for his tax cut, but was also going to lead to a balanced budget.  Instead, the $3 trillion national debt when he came into office ("A stack of $100 bills 67 miles high," as The Great Communicator said during one of his first press conferences) became $6 trillion by the time he left.

    And that's how Dick Cheney came to say: "Reagan proved that deficits don't matter."

    "Slip? Upset? In Utah! Trail, no! M. Romney? Odd! Elder, an A.M.C. man, a Red-led doyen! Mormon liar that unites pupils?"

    by Obama Amabo on Wed Jul 20, 2011 at 11:06:03 AM PDT

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