Happy Anniversary! Almost 10 years ago today, on August 1, 2001, the Associated Press reported that the Treasury Department began borrowing $51 billion in order to pay for the first round of Bush tax cuts’ rebate checks.
While Democrats consider cutting entitlements and other programs, the GOP plans on celebrating by convincing each other that keeping the Bush tax cuts (especially for the rich) will fix what's ailing our country. Read about it here.
The really incredible thing is that if the rich and corporations paid taxes at the same level they did in the 1960s our budget debt would disappear.