In 2001, with the government running its first small surplus in decades, the Republican candidate was elected on a platform of slashing taxes because it was "not the government's money" but "the people's money."
He promised us that he could cut taxes and not run deficits:
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We can proceed with tax relief without fear of budget deficits, even if the economy softens."
He promised us that with his tax cuts the nation would pay down the debt:
We can meet our priorities, and we can fund them. And we can also pay down debt. I know a lot of folks around America are worried about national debt, as am I. We pay down $2 trillion of debt over the next 10 years. That's all the debt that's available to be retired without having to pay a premium for prepaying debt. That's a lot of debt retirement. It will be the biggest repayment of debt in the history of the world. And so we pay down debt.
He told us about how wrong it was to borrow money and expect our children and grandchildren to pay for it:
"Future generations shouldn't be forced to pay back money that we have borrowed. We pay back money that we have borrowed. We owe this kind of responsibility to our children and grandchildren"
Despite the rare luxury of inhereting a surplus, as of last Monday, this Republican leader of many promises has added
over 4 trillion dollars to the nation's debt.
01/22/2001 5,728,195,796,181.57
09/22/2008 9,785,866,165,910.40
Debt to the Penny (Daily History Search Application)
That's the kind of responsibility to our children and grandchildren 8 years of Republican administration has given us.
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