When Bush sprung his massive tax cuts on us, tax cuts that went to the 1%, 450 top economists, including 10 Nobel laureates to us that this would not do what Bush said these tax cuts would do for us, and would bury us in debt. And Bush and the GOP congress ignored them, and it was so, The OBM tells us that Bush's massive debts, doubling the national debt in 8 years, could point to his tax cuts for 30% of the total. Obama want to end these tax cuts, but the GOP House and Senate wanted to make these tax cuts permanent. The best Obama could do was get a 6% reduction. Again, the OBM told us 24% of our deficits came from these tax cuts. With a Congress like that, it is hard to blame Obama. And of course bailing out America after the great recession cost trillions. Not Obama's fault.
When it comes to massive deficits, the GOP is a champ. And as long as the GOP controls Congress, the deficits will continue, because, GOP.
Don't try to blame this on Obama alone. 20 years of GOP incompetence and America still doesn't get it and votes Republican. I think I see our problem.
https://en.wikipedia.org/wiki/Economists'_statement_opposing_the_Bush_tax_cuts
The
Economists' statement opposing the Bush tax cuts was a statement signed by roughly 450
economists, including ten of the twenty-four
American Nobel Prize laureates alive at the time, in February 2003 who urged the
U.S. President George W. Bush not to enact the
2003 tax cuts; seeking and sought to gather public support for the position. The statement was printed as a full-page ad in
The New York Times and released to the public through the
Economic Policy Institute. According to the statement, the 450 plus economists who signed the statement believe that the 2003 Bush tax cuts will increase inequality and the budget deficit, decreasing the ability of the U.S. government to fund essential services, while failing to produce economic growth.
[1][2]
In rebuttal, 250 plus economists who supported the tax plan wrote that the new plan would "create more employment, economic growth, and opportunities for all Americans.
"
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The problem is Americans don't learn from Republican mistakes.