text: And two unsustainable tax cuts that primarily benefited the already uber wealthy. When Cheney cast the tie breaking vote for the second round of deficit inducing tax cuts he infamously made the statement, "Reagan proved that deficits don't matter". True that. Deficits only matter when they can be used as cudgel against Democratic administrations. I've seen estimates that as much as 40% of the current deficit are because of those two tax cuts. Add in the ungodly war of choice against Iraq, zero funding for the Medicare Part D giveaway to PHARMA(close to $800 Billion) and zero funding for No Child Left Behind and you've got some pretty big numbers.