In addition, in running for re-election, President Bush promised to cut the budget deficit in half, and he did so. By 2007, his budget deficit was $161 billion, a mere fraction of every one of Obama's trillion-dollar-plus deficits. In that year, by the way, we were still at war in both Afghanistan and Iraq, and the tax cuts had been fully implemented years before, conclusively putting the lie to Obama's claim that Bush handed him astronomical deficits as a result of his tax cuts and two wars. Utter nonsense. Shameless propaganda.
President Bush did spend too much, though Obama's deficits have dwarfed his. But for the sake of argument, let's take Obama at his word that he inherited enormous deficits from President Bush. Wouldn't the reaction of a responsible presidential successor have been to say, "We have racked up bankrupting spending, so we must reverse course and get our spending under control; we owe it to our kids not to squander their future and saddle them with mountains of debt"?
Instead, Obama cynically used the extraordinary deficit in that final year as a license to re-establish the base line for future deficits so that he could embark on his extravagant spending spree while pretending he was not increasing the deficit. He has piled on deficits of more than $1 trillion during each of his four years. Unintentionally, you say?
Nice try, but the Congressional Budget Office says that his most recent 10-year budget also gives us annual deficits averaging almost $1 trillion per year. He does not even aspire to bring the budget into balance. Add to this that he is steadfastly obstructing entitlement reform -- so that our $100 trillion of unfunded liabilities will continue to grow apace -- and we will soon be out of time to avoid going the way of Greece.
Obama has not cut trillions in spending. At most, he has been forced to agree to reductions in the level of spending increases. But even here, he has gone back on his word and broken his agreements. He offers us nothing but more spending proposals -- claiming it's the only way to stimulate the economy and pretending we are too stupid to realize we've already been there and done that.
Obama's claim that he is not a big spender is preposterous, but if he insists on insulting the intelligence of the American people in sticking to his story, that's fine with me because it will make our task of defeating him in November that much easier.
Democrats Remain Silent as Obama Economy Kills Jobs, Freezes Wages Amid More Layoffs to Come | Donald Lambro