Skip to comments.Flashback Audio: Obama In 2004 Attacks Bush For “Three Dismal Years of Job Losses”…
Posted on 02/07/2012 10:28:00 PM PST by Nachum
Sounds more like 2004 Obama campaigning against 2012 Obama.
(Excerpt) Read more at weaselzippers.us ...
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In a fair accounting, President Obama is responsible (along with the then-Democratic Congress) for the $1.3 trillion in deficit spending in 2010 and the estimated $1.6 trillion in deficit spending in 2011. He [Obama] should not get credit, moreover, for the $149 billion in TARP (Troubled Asset Relief Program) repayments made in 2010 and 2011 to cover most of the $154 billion in bank loans that remained unpaid at the end of the 2009 fiscal yearloans that count against President Bushs 2009 deficit tally.
The Treasury Department says that all but $5 billion of the TARP bank loans has now been repaid. The portion of repayments that was for loans issued in 2009 should be deducted from Bushs deficit tally, not credited to Obama as deficit savings. There is some astounding number crunching in this article, and a chart of modern day presidents average annual deficit spending ........a frightening conclusion of what happens if Obama has an 8 year term.
REFERENCE In his weekly address circa July 9, 2011, Barack Obama blamed the Bush Administration for his record defict.
EXCERPT FROM The Hill: We can meet our fiscal challenge, the president said. Thats what the American people sent us here to do. They didnt send us here to kick our problems down the road. Thats exactly what they dont like about Washington. They sent us here to work together. They sent us here to get things done. Obama sounded a positive note about negotiations over raising the federal governments debt limit. The good news is, we agree on some of the big things, he said. We agree that after a decade of racking up deficits and debt, we finally need to get our fiscal house in order.
Which is why is should be defeated in November.