"Oi - Obama:Inherit this, you commie-loving blighter!"
Posted on 02/20/2009 6:01:49 AM PST by EnglishOnly
Washington - Few Americans have any idea how bad the financial problems are that President Obama inherited from the Bush administration. Never mind the housing bubble, the bank meltdown, or the bailout scandals – I am talking about the failure of federal government to honestly account either for its own actions or for America's most important programs: Medicare, Social Security, and Medicaid. George W. Bush took office after three years of budget surpluses under President Bill Clinton. Eight years later, Obama walked into the Oval Office to find – gift-wrapped with a bow, as he recently joked – almost $11 trillion in Treasury debt, and deficits of more than $1 trillion a year for the foreseeable future. That's a $30,000 burden on every man, woman, and child in America, on top of the taxes they are already paying. Under better management, that number could have been zero. If this weren't bad enough, President Bush's financial legacy is marred by other fundamental problems. Bush's team borrowed more than $1 trillion from the Social Security "trust fund" and seemed to spend it on everything except Social Security. Like Blanche DuBois in Tennessee Williams's "Streetcar Named Desire," Social Security now depends on the kindness of strangers – namely, future taxpayers and foreign lenders. Worse, the Bush administration refused to tell the public about the extraordinary underfunding or overpromising of our major entitlement programs.
(Excerpt) Read more at csmonitor.com ...
Congress is responsible for spending. W was a great enabler.
I see Cooper thinks there is some kind of Social Security trust fund.
Even with Clinton’s so called surpluses (weren’t they just projected), he still left office after 8 yeas 1.2 trillion in the hole.
But this thread also contains this:
George W. Bush took office after three years of budget surpluses under President Bill Clinton
You simply CANNOT portray Clinton -- or any Democrat -- as fiscally wise and responsible. At that point, the article just becomes partisan bashing. The Democrats (as a body) contributed far, far more to our economic problems than did George W. Bush.
President Bush worked miracles against the Liberal Establishment for 6 yrs. After Pelosi took power there was nothing he could do to stop the inevitable. Fannie Mae was Ground Zero and that was what congress did.
Pray for America
W pushed his pet projects too. He was totally clueless and actually encouraged the National Debt to skyrocket.
Love the man personally, but he set us up for this big time.
Don’t let the fact of a DEMOCRAT congress slip under the desk. In any case Obama has proven uninterested and utterly incapable of righting the previous wrongs. He is exponentially and KNOWINGLY exacerberating the situation. He is either fully invested in destroying America or he is an imbecile.
And Bush walked into office with an econcomy in recession.
WRONG.
The minute the polls indicated an overwhelming victory for Obamination and the ferociously anti-business democrat party, the world economy collapsed.
All wrongs were committed by Bush. Everyone knows that. (Sarcasm}.
"Oi - Obama:Inherit this, you commie-loving blighter!"
Um, did you forget this?
http://en.wikipedia.org/wiki/Medicare_Prescription_Drug,_Improvement,_and_Modernization_Act
That was 2003.
“Like it or not, make no mistake.... G.W. BUSH greased the skids for what is now happening.”
Bullsh__t...
EVERY SINGLE ATTEMPT to try and bring saneness to lending to people UNQUALIFIED TO OWN HOMES was met with cries of RACISM...
Bush had NOTHING to do with the MASSIVE mortgage frauds being perpetrated on the taxpayers in America’s inner-cities.
And, as someone else noted, CONGRESS controls spending, not Bush.
The criminals responsible for bankrupting THE ENTIRE planet are sitting in Congress, RIGHT NOW, and the have a (D) after thier name.
Obama inherited a fiscal disaster. Now what?
= = =
Now, Obama will spend money like a drunken sailor and make it worse!
Obama only inherited that which he helped create on purpose. Now he is taking advantage of it.
Congress is responsible for spending. The Republicans of the time did their job better than the ones who followed. Clinton had to go along for the most part.
The Congressman writing this piece of tripe was there, so why didn’t he do something about it? Bush signed off on a lot of pork and Socialist programs but this article is disingenuous and purposely omits many facts.
Liberals in congress are responsible for creating this bubble. Dubya enabled them. Obama is going to make it worse.
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