Flashback Audio: Obama In 2004 Attacks Bush For “Three Dismal Years of Job Losses”…

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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 year—loans that count against President Bush’s 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 Bush’s deficit tally, not credited to Obama as deficit savings. There is some astounding number crunching in this article, and a chart of modern day president’s “average annual deficit spending” ........a frightening conclusion of what happens if Obama has an 8 year term.

Ohaha wants Americans to believe he "just happened to drop by" the WH for a spell....and doesn't have anything to do with the dismal state of the US economy.O's recent SOTU speech was deliberately contrived to gull the citizenry.

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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. “That’s what the American people sent us here to do. They didn’t send us here to kick our problems down the road. That’s exactly what they don’t 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 government’s 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.”

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