How US got into debt so rapidly...Washington Post article

[RDMcG]

This is quite interesting reading which postulates that the reduced tax revenues were the largest contributor to the US financial decline.......

http://www.washingtonpost.com/business/economy/run...

[NorthernBoy]

Reduced tax revenues were a major contribution to the deficit here, too. Labour seem to have planned its spending based on Broon's bizarre belief that the business cycle had been banished.