Sunday, October 9, 2011

The "Bush" Deficit Explained

October 21, 2010

This is an excellent article debunking the myth that George W Bush caused the Obama deficit. Pass this along.

Philip Edwin Coffman writes:

This is from the President of the State Banking System of Ohio. This is a great lesson to understand as we enter the fall elections. Politicians on both sides have a way of making things sound good, and even though true, are very misleading.... Progressives are killing this country, and we need to change course, but let's make sure we are dealing with a full deck. Don't believe everything you hear. Check it out before making up your mind. We will be deciding this country's financial future............

The Washington Post babbled again today about Obama inheriting a huge deficit from Bush. Amazingly enough, ... a lot of people swallow this nonsense. So once more, a short civics lesson.

Budgets do not come from the White House. They come from Congress, and the party that controlled Congress since January 2007 is the Democrat Party. They controlled the budget process for FY2008 and FY2009, as well as FY 2010 and FY2011. In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.

For FY2009 though, Nancy Pelosi and Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the FY 2009 budgets..

And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete FY 2009. Let's remember what the deficits looked like during that period:

If the Democrats inherited any deficit, it was the FY 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets. If Obama inherited anything, he inherited it from himself.

In a nutshell, what Obama is saying is I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th, 2009.

There is no way this will be widely publicized, Unless each of us sends it on!This is your chance to make a difference.

1 comment:

  1. Ken, excellent stuff, can you post a link to the original article though....


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Salesman/insurance agent more than 20 years turned baker. Go figure. My wife Julana and I bought a little bakery ten years ago and now she is the premier cake designer in this part of the state. In the past few years I have developed a love for motorcycling. Can you tell?