Whose Debt?


President Obama and his allies continue to blame George Bush for the massive debt problem we have. Unfortunately, the facts don’t back them up. Before the Democrats took control of congress in 2007 the deficit was almost gone. It didn’t take off until they took over, and Obama was a Senator at the time who went along with the big spending. The last time the Democrats passed a budget was in 2009. They cooked over a trillion dollars in deficit spending into the budget and have passed continuing resolutions ever since. So in the past four years they’ve racked up over six trillion in new debt.

Also note how tax revenues were way up even after the Bush tax cuts for everyone kicked in. That’s because the economy was humming along and people had jobs. Now we have this new normal where only 63% of Americans who could be working are working. Those who aren’t working aren’t paying taxes and since there’s no end in sight to this never-ending recession don’t expect it to get better. But of course, the Democrats will just keep blaming Bush because it beats telling the truth.