We have an anniversay today!!
On this date in 2001, Alan Greenspan, then the Federal Reserve chairman, gave his blessing today to a substantial tax cut. Because there was the "danger" that the government will run surpluses (Damn you, Bill Clinton!) for years to come - and then government will ultimately confront the question of what to do with surplus revenue when the debt is zero!
It was a clear shift from the position he held for years. And the Republicans let him get away with it. When triggers were proposed as a backstop in case Greenspan was wrong, Republicans were all in favor of them. Until it came time to vote, and then they didn't.
His comments made Bush's proposal for a $1.6 trillion tax cut over the next decade the centerpiece of his economic agenda.
And the rest is history.
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We could have embarked on a massive tiny-house building project that would have created numerous jobs, revitalized blighted urban communities, and housed tens of millions of Americans.
Instead? Tax cuts, followed by an immensely expensive and unnecessary war of choice in Iraq. Great!
-Laelth
Thanks for the reminder 
