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When Big Deficits Became Good

goldilocks Wrote: Jan 11, 2013 10:00 AM
Just ask Washington, Adams and Hamilton who believed in federal deficits. From Lincoln to "W", Repubs have believed in fed deficits.
Texas Chris Wrote: Jan 14, 2013 9:21 AM
So because every other president (but two) increased the debt, then it must be right? No thanks.

As a senator and presidential candidate, Barack Obama said that he detested budget deficits. In 2006, when the aggregate national debt was almost $8 trillion less than today, he blasted George W. Bush's chronic borrowing and refused to vote for upping the debt ceiling: "Increasing America's debt weakens us domestically and internationally. Leadership means that 'the buck stops here.'"

In 2008, Obama further blasted Bush's continued Keynesian borrowing: "The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our...