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4 Answers
- ElanaLv 79 years agoFavorite Answer
Not particularly.
They did, however, contribute to the immense deficit the government is experiencing now.
Where the two come together is people deciding that now is a bad time for the government to be spending money trying to pump up the economy because it is in debt. If the government had lots of money, it would be easier to push programs through Congress to employ Americans with infrastructure jobs (building roads, paying teachers).
However, as it is, Conservatives say that with no money, the government should be spending as little as possible. Of course they also say we should be reducing taxes which reduces income to the government which increases the deficit ...
- Mike WLv 79 years ago
Tax played no part in that. People taking out ill-advised mortgages in huge numbers did that, lenders bundling those bad mortgages and selling them as securities also played a large part in that.
- Anonymous9 years ago
folks who didn't pay their mortgages did that..........