AdvertisementBut between Reagan and the second Bush came a sea change in how the party viewed federal debt. In the end, his tax increases effectively undid about half of his tax cuts. Embracing debtThe irony of the debt explosion in recent years is how quickly the country’s long-term financial outlook has changed. The presidential candidate who won the 2000 election had promised sweeping tax cuts and immediately worked to enact them after taking office. Advertisement“We have a problem of Republicans beginning tax cuts on a partisan basis, and then Democrats being afraid not to extend them,” Kogan said.

Source: Huffington Post July 14, 2025 00:23 UTC