Nearly 10 years ago today, on August 1, 2001, the Associated Press reported that the Treasury Department was tapping $51 billion of credit in order to pay for the budgetary cost of the first round of Bush tax cuts' rebate checks. The AP reported at the time that Democratic Party opponents of the tax cuts worried that they'd return government budgets to "red ink": AND IT DID. GOP continues to demand "deficit-funded" tax breaks for America's wealthiest families and corporations based on a proven failed ideology of 'trickle-down' economics as a job creator. After 10 years, 'real' unemployment stands at 16%. |
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At thinkprogress.org
OpedNews volunteer from 2005 to 2013.
Amanda Lang was a wonderful member of the Opednews team, and the first volunteer editor, for a good number of years being a senior editor. She passed away summer 2014.