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Posted on 08/07/2011 1:53:18 PM PDT by MsLady
What’s also important, but not evident, on this chart is that Obama’s major expenses were temporary — the stimulus is over now — while Bush’s were, effectively, recurring. The Bush tax cuts didn’t just lower revenue for 10 years. It’s 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.
(Excerpt) Read more at washingtonpost.com ...
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How much debt is appropriate for country where 1 in ten people cannot pay a dime in taxes; for a country whose main store of wealth -- real estate -- has lost 50% of its value since Bush was president?
You better duck, cuz I'm gonna THROW UP all over the place.
Absolute BS.
They are still trying to pin what is happening to the economy on Bush.
Bush’s policies were part of the same failed borrow-and-spend policies that every president has followed since the Federal Reserve was instituted.
By Obammie the Commie adopted Bush’s policies and put them on steroids.
Absolute lies from the Washington COMpost.
Klein is a political scientist not an economist
If you accept that the Bush Tax cut is a “cost”, which I don’t, they were extended by Obama. He owns the recurring effect of that move now. So much of that is in the wrong column.
Iraq and Afghanistan are being extended under Obama too, when he could have stopped it. So he owns those too.
The liars will be out in force and this guy is one big one.
From another post on the media spin:
Gonna backfire spectacularly....
My rationale is that even libs are getting tweaked at the BS coming out of Washington and hell hath no fury like a lib scorned. In all things there comes a tipping point (except for Guam, certain Congressmen and the military ;)
More people were adopting the TEA attitude before the SHTF over the debt deal. This newest fiasco is going to financially hit libs already questioning things just as hard as we who have questioned it all along. The ‘big lies’ have come so regularly that there is no longer a “BIG” enough lie to tell.
Regular people headed toward the TEA Party will not turn back, only run there faster. They know this is BS. Now the libs are questioning it too? That means that even if the TEA Party doesn’t get a big lib membership boost, those libs aren’t going to just roll as easily and buy the DC BS. That hurts the establishment Libs immensely.
Wait a few days till the screaming dies down and the reality sets in. I think there will be a big shift in attitudes once the chaos of the shout shows gives way to reality.
I guess I should have given the BARF ALERT....sorry :(
Bull crap. I just looked up the tax revenues from 1998 through 2010 two days ago. It showed that after the passage of the 2nd Bush tax cut in 2003, revenues from income taxes that averaged around $1.1 trillion from 1998 to 2003, averaged around $1.5 trillion from 2004 to 2008. I'll post the actual figures for income tax revenue and total revenue later this week when I get back to office.
Good point. Obama spent for that same cause. Why isn't it showing on his side?
And he did it because he knew it juices the economy though not one of these "journalists" will say that.
Definately needed a BARF alert on that one.
Yea that was my thinking to. But, I could see where it could fool the dummies, like one of my old school mates. Who posted this on fb :) I’m letting her have the real story right now. Not so sure she’s going to take to kindly to it though.
Best explanation ever!!!
The article from which this graph is taken is titled,”The Obama Downgrade” at http://online.wsj.com/article/SB10001424052702304203304576446332084493902.html
Bush and the last GOP Congress 2006. Federal Deficit 160 billion
Obama and the last Democrat Congress 2010. Federal Deficit 1.7 trillion.
No amount of creative accounting by Mr Klein, or the rest of the 0 bot media, can explain away that number.
Another fact. When Bush left office our Fed Deficit was 69% GDP. Now our annual Federal Deficit is 97% GDP. NO way for people like Mr Klein to manufacture a lie to excuse 0 for that fact.
That’d be great. I knew this article was BS but, looking up all the numbers and trying to figure out everything he left out or misrepresented was just mind boggling. I knew if I posted the article here, I’d get lots of info ;)
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