You're damn right this country was great back when we had strong union jobs and a family could live comfortably on a single income. There were strong regulations and the top tax bracket was near 90%. Things weren't great for everyone but at least we weren't fucked like we are now.
I'd like to see where you're getting your numbers.
So tell me, how do tax cuts for the rich translate into lower deficits? Repubs have been promising that for decades and it has never worked. It's fools math the repubs like to sell to folks who don't know any better. The government requires money to run. If you're not getting the money from taxes, it needs to come from someplace else. You either need to borrow it to pick up the slack (deficit) or do cuts (which affects most people rather badly). So where does the extra money come from?
The mortgage debacle was caused by corporate greed and lack of regulation. The banks would give a loan to anyone who could fog a mirror because they could make a quick profit iby reselling those shit loans and leave someone else holding the bag. Furthermore, Bush had advance warning of 9/11 and did nothing.