Thursday, June 10, 2010

Deficits

http://blog.heritage.org/2010/02/05/past-deficits-vs-obamas-deficits-in-pictures/

A good chunk of the deficits racked up by the Bush administration came from actions that President Bush and a Democratic Congress took to prop up the economy right before he left office. It is a fact that TARP was enacted after consultation with the in coming administration. Rich likes to ignore all of these facts when he and the other liberals act like petulant children and try to blame all of the world's ills on Bush. I am sure you learned in your high school Civics class that no spending is done without the explicit approval of Congress. The Legislative branch "holds the purse strings" not the Executive branch.

If you look at the charts contained at the link above you can see that since the Democrats have taken control of Congress the deficit has increased from around 200 million to where it is today. The reverse can be said about when Clinton was in office. The deficit was eliminated and the surplus was created when Republicans were in control of Congress. However Clinton was a pragmatic President and was able to tack heavily to the right during his Presidency I do not believe this President has enough common sense to do the same. The Democrats will try to claim that the deficit is shrinking substantially prior to the 2012 election but anyone with any brains will know that this is being accomplished using accounting trickery. As the good Doctor has pointed out under the health care reform bill the government will be collecting substantial amounts of increased taxes before they start spending as part of the health care reform. Their hope is that this will create a reduction in the deficit in time for the election before the costs hit and the deficit spikes to the south.

This is the kind of people we have running things now. They will mortgage the future away to win elections. Shame on any politician that has voted for this abuse!

2 comments:

Baxter said...

Thank you, Mark, for acknowledging that Bush handed Obama a $1.3T deficit. I'm glad your knowledge on the topic is now up to speed.

Yes, the Bush Collapse did necessitate additional spending, TARP and myriad other spending initiatives to prevent the Great Depression II. Prior to the Bush Collapse, the new Democratic Congress had not implemented any new tax or spending initiatives. Every dollar spent had George W Bushes approval.

Remember, the last time a Republican president had a Republican Congress for at least six years, we had the Great Depression. Lets try to remember that.

Baxter said...

Quick question, Mark - how come the surplus left town when Clinton did? You erroneously give them credit for the surplus, but it went away as soon as the Democrat did. We had a Republican monopoly that could not wait to ditch pay/go and cut taxes and look what happened.

Don't blame the Democrats for the deficits. No satisfaction comes in making a dishonest argument.