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Tuesday, May 10, 2011

Debt Problem In One Word: Spending

IBD:

"And the Bush tax cuts aren't to blame for the massive fiscal hole that opened up over the past three years. That was partly due to the unavoidable recession-caused drop in revenues. But the big driver was the massive increase in federal spending, which reached an astonishing 25% of GDP between 2009 and 2011."

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