How close were 2001 Predictions?

[Roy Rolling]

In 2001 the Heritage Foundation commented on the effect of the Bush tax cuts proposed in 2001. They predicted:

"...Under President Bush's plan, an average family of four's inflation-adjusted disposable income would increase by $4,544 in fiscal year (FY) 2011, and the national debt would effectively be paid off by FY 2010.

The net tax revenue reduction, after accounting for the larger tax base that would result from higher employment and faster economic growth under the Bush plan, is $1.1 trillion from FY 2002 to FY 2011, 33.4 percent less than conventional static estimates.

The plan would save the entire Social Security surplus and increase personal savings while the federal government accumulated $1.8 trillion in uncommitted funds from FY 2008 to FY 2011, revenue that could be used to reform the Social Security and Medicare systems and reduce the payroll tax."

I especially like the part about "THE NATIONAL DEBT WOULD EFFECTIVELY BE PAID OFF BY FY 2010"

My last comment is, the only thing they left out was promising me a pony...

[Jackpine Radical]

1. Link?

[Roy Rolling]

2. article citation

http://www.heritage.org/research/reports/2001/04/the-economic-impact-of-president-bushs-tax-relief-plan

[Fumesucker]

3. But they weren't counting on Obama becoming POTUS and ruining the economy/running up the deficit..

:eyes:

You *know* that's what they're going to say if called on it.

[Roy Rolling]

4. yeah you right

...and we were so close to balanced budgets in 2009 . . . :rofl:

[katsy]

5. Send this to all the news outlets

that still think the heritage foundation is a legitimate source of information.

They are useless to all but the elite. They promote thieves and hide corruption.

[unblock]

6. 9/11 changed everything!

one act, one morning, 19 people.

shrub's plan was perfect and bullet-proof, aside from that.
who could have predicted that?

and what could shrub possibly have done to adapt to the changing circumstances?
he would have gone for more tax cuts, which would have solved everything, were it not for those dang democrats....

:sarcasm: