Update 9/23/14. The original link was busted. In case that happens again. I'll quote from the editorial.
How did we get into the mess of having deficits of $1.5 trillion?
Norm Orenstein, of the conservative American Enterprise Institutes, reminds people he and others said at the time that the cuts in capital gains taxes were going to be a huge drain on federal revenues... This was in and around 2000-2002. Says Orenstein: 'Guess what, it was a huge drain on federal revenues.' [Note: it should say 'Norm Ornstein.']
But we continued to cut taxes...Here's the poignant contrast:
Another surprise: the report reminded people that Allen Greenspan was saying paying down all our debt would have negative economic implications, would hurt growth.Who should we have followed--Ornstein or Greenspan? Oh, the regret!