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Massive outlays a necessary tonic that leaves behind painful debt

Remember this statement?
“...And we can proceed with tax relief without fear of budget deficits, even if the economy softens. The projections for the surplus in my budget are cautious and conservative. ” [President Bush, Remarks, 3/27/2001]
Or this one?
“[O]ur budget will run a deficit that will be small and short-term.” [President Bush, 01/29/2002]
The deficit has now grown to $37,000 for every man, woman and child in the United States. From an AP analysis story:
It's hard to believe that just eight years ago -- as President Bill Clinton was leaving office and Texas Gov. George W. Bush was preparing to be sworn in -- there was a projected $5.6 trillion 10-year budget surplus. Both Clinton and Bush talked of using part of it to retire the national debt by the end of the decade. Instead, the bursting of the technology bubble, big Bush tax cuts, the Sept. 11 attack, wars in Afghanistan and Iraq, increased spending on homeland security, a mild recession in 2001 and the current financial meltdown intervened.

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