Its Bushs fault...
W’s admin, along with regulators, warned about the growing danger of the loose lending.
I’m reading Reckless” It’s hair raising. Democrats ripped us off.
Obamas Deficit Avalanche isnt Bushs Fault / scottuystarnes.com / 2/9/2010
Washington Times reports: Even more staggering than the mountains of snow in the capital are the deficits the Obama administration plans for the next decade. Huge spending increases will add about $12 trillion to the national debt for budget years 2009 to 2020.
The scariest part is that these deficits are based on unrealistic budgeting assumptions; the real fiscal outlook is much bleaker. In the proposed 2011 budget, the White House defensively attacks the irresponsibility of past deficits.
For example, the 2009 budget deficit of $1.4 trillion is blamed on the George W. Bush administration as if President Obamas $862 billion stimulus package and more than $400 billion supplemental spending bill had nothing to do with it. Mr. Obamas planned 2010 budget deficit rises to an even higher record level of $1.6 trillion.
By comparison, all of Mr. Bushs deficits from 2002 to 2008 the seven years during which his team had the most control over the budget produced a combined deficit of $2.1 trillion.
Obama has spent more in 2 years than Bush did in 7 years. Obamas BIOB (Blame it on Bush) defense just wont work anymore.
“Ws admin, along with regulators, warned about the growing danger of the loose lending.”
...I did hear a little. But I heard a lot more about the “Ownership Society” coming from Bush. I do not give him a pass...at all.
But I do agree, the rut of the problem clearly traces back to liberalism and it may well be what ultimately takes down this country.