Why didn't Obama change the variables that could be changed? Why continue the huge defense spending? And why not raise taxes, at least on the rich?
Monday, July 18, 2011
Bush policies mostly responsible for huge deficits
I found this on "The Chart That Should Accompany Every Discussion of Deficits" after seeing it on my friend Heather's facebook page.
Why didn't Obama change the variables that could be changed? Why continue the huge defense spending? And why not raise taxes, at least on the rich?
Why didn't Obama change the variables that could be changed? Why continue the huge defense spending? And why not raise taxes, at least on the rich?
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8 comments :
The Democrats lost all credibility and any right to complain about the wars in Afghanistan and Iraq. We have been in Iraq for 8 years...and for 5 of those years the Dems controlled the budget in congress.
The Obama Admin is pushing to keep troops in Iraq past the expected deadline...and he has exemplified the war in Afghanistan to unprecedented levels. He's even bombing Libya...as well as Yemen and Somalia.
This is an obsolete, irrelevant debate.
McCardle of The Atlantic reviews these charts:
http://www.theatlantic.com/business/archive/2011/07/the-center-on-budget-and-policy-priorities-thinks-were-still-in-the-bush-era/241805/
So the solution to Bush overspending, is to spend more now? And how does the economy know the difference between Bush spending and Obama spending?
If the Bush tax cuts are accurately depicted on the graph, the solution is clearly to end the Bush tax cuts.
Ann Coulter says 1 year of Social Security can pay for 37 Iraq wars, and that sounds correct. People overestimate the cost of wars to the budget
The cost of war is smaller than the cost of the Bush tax cuts, but they are still huge, and they should be trimmed.
Thanks, Mojo for pointing out what people seemingly have forgotten. That it was the combined effects of Bush's tax cuts and Bush's war in Iraq that led to the huge deficits that we have today, not Obama's stimulus spending. Obama's stimulus plan started a recovery that all the recent cutbacks have effectively stalled.
US Treasury cash flows are irrelevant to our current f'd.economic mess.
Congressional Lefties thought that the Community Reinvestment Act would let ANYBODY get a loan, and stop the cruel requirements for credit worthiness,,, and that did create a " Houseing BOOM " but it will take several more YEARS to repair the damage done by the creation of all the resulting "funny money".And after all the Lefties " help", note that home ownership in the USA is at historic low.
bushtheliberator
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