Monday, July 25, 2011

Dr. Boyce: The Debt Ceiling Battle is a Symptom of Much Greater Economic Troubles



by Dr. Boyce Watkins, Syracuse UniversityScholarship in Action

In early 2001, America’s economic future was rosy: Our government was sitting on a massive budget surplus, and the Congressional Budget Office predicted that the next 10 years would carry our nation down the path of seemingly endless prosperity. This was a good time for President George W. Bush to push through a set of massive tax cuts, significantly reducing government revenue at a time when we didn’t quite seem to need the money.


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