Posted on 07/25/2011 2:26:57 PM PDT by OneVike
Whats also important, but not evident, on this chart is that Obamas major expenses were temporary the stimulus is over now while Bushs were, effectively, recurring. The Bush tax cuts didnt just lower revenue for 10 years. Its clear now that they lowered it indefinitely, which means this chart is understating their true cost. Similarly, the Medicare drug benefit is costing money on perpetuity, not just for two or three years. And Boehner, Ryan and others voted for these laws and, in some cases, helped to craft and pass them.
To relate this specifically to the debt-ceiling debate, were not raising the debt ceiling because of the new policies passed in the past two years. Were raising the debt ceiling because of the accumulated effect of policies passed in recent decades, many of them under Republicans. Its convenient for whichever side isnt in power, or wasnt recently in power, to blame the debt ceiling on the other party. But it isnt true.
(Excerpt) Read more at washingtonpost.com ...
Dis is ein Klein who haf no mind.
Tax cuts are “expenditures?”
Ve call dis katzenjammer economics.
Vats mein in ist mein; vats yours ist mein.
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