CSPAN U.S. House Of Representatives August 17, 1108
2000 to 2010 period if that surplus were to continue, that it might lead to a significant and troublesome reduction in the american debt. Thats a complex question as to why that would be troublesome, but nonetheless it was said. So what happened . George w. Bush came in, cut taxes. Decided wed go to war. First war ever in americas history that was not financed by taxes. But by borrowing. Mostly from china. And the deficit began to explode and then there was the great collapse in 2008 and the deficit went right through the roof. And so we have been living since that time of the george w. Bush t...