Yes, after $5Trillion in Trade Deficits over the past 7 years it moved down 6%. WOW!!!!.
Add that 20% of every current tax dollar [$500B on a $3Trillion Annual Budget] goes to pay INTEREST on the National DEBT and yes, there are going to be tax hikes, just to keep the current infrastructure going. Bushie insured that with his Republican Congress, unlimited spending and failed Economic policies [including above noted $5T Trade Deficits and $4.5T added to the Reagan/Bush National Debt*]
*Not all of the near $10 Trillion belongs to Reagan/Bush or Shrub. To be fair, $975Billion belong to the other 40 Presidents. But all they had to deal with to generate debt was the Civil War, Spanish American War, World War 1, Great Depression, World War 2, Korean War, Cold War, Space Race, Viet Nam and helping feed the world for nearly a Century. Damned slackers.
Surely, you don't mean to imply BushII is responsible for 8 trillion of the national debt??
See charts below (I hope they're legible)
You will see in chart 1 that when Bush took office from Clinton, the debt was $4.25 trillion. It barely slowed down in Clinton's years, but it slowed down. But congress was controlled by Republicans 6 of his 8 years in office and Congress controls spending. Now, we'll also note and acknowledge that when BushII took over, congress and him, both, spent like drunken sailors while giving tax cuts. An irresponsible combination. You should also note that during the Reagan years, Democrats were in control of congress and they controlled spending, at that time. So for me to say it's all the Democrats fault or for you to say it's all the Republican's fault would be irresponsible statements from each of us. NO ONE POLITICAL PARTY GETS A FREE PASS, on this one.
Also note how the Gross Domestic Product DECLINED during the Clinton years.