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Old 07-15-2011, 06:19 PM
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Default 5 Trillion dollar surplus

According to Paul O'Neil (Bush's first Sec. of Treasury) there was a projected five billion dollar surplus to be realized over the next ten years (2001 - 2010). This was projected three days after Bush took over the White House.

The surplus was squandered. Greenspan and O'Neil wanted to protect the surplus by controlling the "Tax Cut For The Rich" by a system of triggers. These triggers would reduce the tax cut if it threatened to turn the surplus into a deficit.

What happened?

Bush/Cheney through their Economic Adviser Lindsay ignored Greenspan and O'Neil and never wrote these triggers into the law.

I notice that you Republicans fail to acknowledge anything that might upset your Utopian view of Republican Nirvana.

I challenge you to address the issue that I presented above.