Quote Originally Posted by tony
The housing market began to crash in 05/06, the Deficit increased under Bush's first term. (Before 2006) Actually there was a Economic BOOM up until that point, which should have easily led to a fiscal balance and/or surplus.

Show me a point in time where there was a drastic tax CUT but a decrease in federal debt. The two notable tax cuts I remember are during the Reagan administration and under Bush.. both resulted in record deficits.
that "boom" was due to the housing bubble, but after all the sub prime mortgages weren't getting paid and people's rates started adjusting everything went under, because banks/stock markets/government funded institutions all had their hand in things they shouldn't. Again, the tax cut had nothing to do with the decline of our economy. housing prices should go up with inflation, however, the exact opposite happened and everyone got too greedy. Failure to regulate these companies and it's obvious cause for the subsequent meltdown led to our shitty economy. That's been PROVEN. CNN/CNBC/FOX you name it, they all agree. It's irrefutable.