The Bush-43 Administration has issued its "Financial Report of the United States Government" covering the year 2006. They say there is a $45.1 trillion shortfall over the next 75 years. They created it.
They did it via Federal Reserve low interest rates (below the rate of inflation for some 31 months), financial deregulation that began hugely in the Reagan administration, and by tax cuts for the rich, so the economy would be weakened and the revenue for taxes wouldn't be there. Then they planned all along to turn to say that now the government must privatize retirement and healthcare and cut benefits to everyone else who can't afford privatized coverage. These people are raw evil to the core.
There was no need to reduce interest rates other then to cause a boom that would bust. There was never a need to cut taxes on the rich, since the trickledown never took place. The rich didn't plow their earnings back into U.S. productivity but rather lavished those earnings on themselves and sent much of the productivity overseas where people were not and still are not protected by high environmental, labor, safety, and other standards.
This is why Jesus said it is harder for a rich man to get into Heaven than it is for a camel to go through the eye of a little sowing needle.