Quote:
Originally Posted by RIJIMMY
Man this is scary. please take the time to read the following commentary. So instead of bashing, do our resident Dems or Liberals support this? Tax, tax, tax, spend, spend, spend. Obama is beyond a democrat stereotype. He is going to bury this country! Does everyone realize how serious this is?
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While I think everyone would agree that we have had a massive spending problem for some time, to say this is a "Liberal" or "Obama" problem isn't really on the mark.
1) Bush doubled the size of the National Debt under his two terms
2) The Bush budget projections were lower than actuals as they factored increased revenues from Bush's tax cuts expiring in 2010, and didn't include funding for the Iraq war which was done via emergency appropriations bills.
Obama has stated he won't do this to hide the costs of the war.
3) The CBO did estimate the 2009 deficit (not including number 4 below) to be about 313B higher than last year, but they also indicate that 250B of this is due to falling tax recieipts and additional spending on some government programs like insurance and food stamps which are due to the recession.
4) The real culprits of the inflating spending in 2009 are the TARP (180B), taking over Fannie Mae and Freddie Mac (238B) and the Stimulus Bill (185B).
The first two programs were initiated under President Bush.
5) The CBO projections also indicade deficit spending to be back to Bush 41 or Bush 43 levels in just a few years assuming the recession doesn't linger.
Hell, even Obama has stated that the projected spending for 2009 and 2010 isn't sustainable. Combine that with the fact that he inherited a good portion of the spending abuses that you're blaming him alone for...and it's clear that the argument we're on a
new socialistic course just isn't true.
That being said, I'm all for the Blue Dog Dems to speak a lot louder, but let's put the issue into perspective and not just make noisy partisan bickering.
-spence
Hybrid Mode
