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To: BobL

“Its Bush’s 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.


15 posted on 07/03/2011 6:43:30 AM PDT by y6162
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To: y6162; BobL

Obama’s Deficit Avalanche isn’t Bush’s Fault / scottuystarnes.com / 2/9/2010
SOURCE http://scottystarnes.files.wordpress.com/2010/02/obama-deficit.jpg?w=400&h=308

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 Obama’s $862 billion stimulus package and more than $400 billion supplemental spending bill had nothing to do with it. Mr. Obama’s planned 2010 budget deficit rises to an even higher record level of $1.6 trillion.

By comparison, all of Mr. Bush’s 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. Obama’s BIOB (Blame it on Bush) defense just won’t work anymore.


17 posted on 07/03/2011 6:49:20 AM PDT by Liz ( A taxpayer voting for Obama is like a chicken voting for Col Sanders.)
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To: y6162

“W’s 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.


19 posted on 07/03/2011 6:57:28 AM PDT by BobL (PLEASE READ: http://www.freerepublic.com/focus/f-news/2657811/posts))
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To: y6162
Bull crap, that was after he and Martinez increased the program, go read his HUD speech. Clinton may have started the program, but old George was more than happy to push it along for 7 years. To say both parties are not guilty to different degrees in this is pure la la land. After all it was Phil gramme credit modernization act that allowed the banks to start making pie in the sky loans and have those whore house hedge funds and derivatives, investor were convince there was no down side, and we the tax payers bailed their asses out.
20 posted on 07/03/2011 7:03:58 AM PDT by org.whodat
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