Time seems to move so quickly, that it's good to go back now and then -- in this case just three years. Listen to the President (http://youtu.be/WpSDBu35K-8) decry the "additional $4 Trillion of debt we got under George Bush . . . That will change when I'm President of the United States." Yep. He zipped past that milestone in his first year in office.
The other fascinating part of the video is that even when Charlie Gibson confronts him with the evidence that raising capital gains taxes does not generate any more Federal Revenue, he still persists. Apparently, for him, the visceral satisfaction of "sticking it to the The Rich" is so great that it overwhelms the reality that doing so works against his stated objective. In economic terms, he derives more utility from the demagoguery than from the actual cash he wants to spread around.
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