Sunday, 21 August 2011

FACT CHECK Recession is culprit in high US debt

This is from CNBC...Much of the present large gap between tax revenues and federal spending comes not from political decisions but from what happens to a nation's finances during any deep recession, economists suggest.

But you wouldn't know it from some of the recent campaign rhetoric.

The Republican candidates all want to shrink government's role by slashing spending and taxes, and repealing or suspending regulations.


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