The annual federal budget deficit is projected to reach 8.3 percent of gross  domestic ... of increasing spending, not declining revenues (or the 2001 and  2003 tax cuts). ... payments on the national debt will cause virtually all of this new  spending. ... trillion in tax cuts enacted in 2001 and 2003 as the leading creator of  deficits.
Jul 11, 2011 ... Say the words "budget deficit," and Republicans and Democrats begin ... is  actually NOT the only factor that has caused the deficit. The other factor--equally  if not more important--is the fall-off in government revenue (tax receipts). ... These  tax cuts hit federal revenue, while federal spending growth ...
May 18, 2010 ... With the 2001 and 2003 tax cuts scheduled to expire at the end of this year,  President Obama and Congress face the prospect of overseeing a historic tax  increase. ... Virtually no economic school of thought advocates raising taxes ...  the single largest part of the black hole that is the federal budget deficit.
May 9, 2008 ... Tax Cuts and Deficits ... The argument is that tax cuts dramatically boost  economic growth, which ... Reality: Robust revenue growth in 2005-2007 has not  made up for ... “The main reason for our growing economy is that we cut taxes  and .... the tax cuts with spending cuts would require deep cuts in federal ...
The economic policy of the George W. Bush administration was characterized by  significant .... Between 2001 and 2003, the Bush administration instituted a  federal tax cut for .... Defense spending increased from $306 billion in 2001 (2.9 % GDP) to $612 ... Two recessions, two wars, and tax cuts were the primary  drivers of the ...
Spending increases, not tax cuts, are the major cause of the federal budget deficit.