Throughout his first term and during the recent campaign Barack Obama blamed the Bush tax cuts for the trillion dollar deficits.
It was a lie. He knew it was a lie. The media knew it was a lie. They let him get away with it anyway.
The truth is federal revenues went up after passing the Bush tax cuts and the deficit went down.
In fact, federal receipts reached Clinton-era levels in 2006, 2007, and 2008 without Clinton-era tax rates.
This was all due to the Bush tax cuts.
WHERE THE DEBT COMES FROM– in one chart.
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