Originally Posted by theking

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Mistake 1: Giving back a predicted surplus over a 10 year period (a paper surplus) with real money.

Mistake 2: Cutting taxes while increasing spending.

Mistake 3: Engaging in major combat operations without either recinding the tax breaks...and/or raising taxes...and/or cutting spending in other areas.

Mistake 4: Engaging in an invasion of Iraq without adhereing to the Powell Doctrine of warfare...without proper planning for worse case scenarios and making Rumsfeld the Secretary of Defense.

Mistake 5: Continuing on for year after year with the initial mistakes without any major adjustments.

This is a simplified version of what has basically put the country in the position it now finds itself in.