The Liberal Lie, The Conservative Truth

Exposing the Liberal Lie through current events and history. “Republicans believe every day is the Fourth of July, but the democrats believe every day is April 15.” ****** "We will always remember. We will always be proud. We will always be prepared, so we may always be free." RONALD REAGAN

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HISTORICAL QUOTE OF THE WEEK - "Always bear in mind that your own resolution to succeed is more important than any other." ABRAHAM LINCOLN

Thursday, February 04, 2010

SO OBAMA SAYS THE DEFICIT PROBLEM IS BUSH'S FAULT....THINK AGAIN !

At every opportunity Barack Obama has placed the blame for the massive federal deficit on former President George Bush. Still claiming after more than one year in office that he, "inherited," the deficit problem and that he through his massive spending saved American from a depression.

Take a close look at the graph above, (hat tip to Mike's America). While Bush and Republicans were not good stewards of our money the deficits were in the process of declining through fiscal year 2007 while the government was still operating on GOP budgets.

Notice fiscal year 2008 the first complete year with a budget approved by a Democrat controlled Congress. The deficit jumped from less than 200 billion in fiscal 2007, the last year of a GOP approved budget , doubling to more than 400 billion in the first year of a Democrat approved budget. While Bush as President presented the budget Congress approved it and added greatly to the Bush budget but because he was President he was given all the blame.

Now closely look at the first year under Obama who worked with a total Democrat majority passing the stimulus bill as well as other massive spending bills. Fiscal year 2009 skyrocketed to 1.4 TRILLION, with 2010 nearly 1.6 TRILLION. Bush had NOTHING to do with either of these. In fact even with a Democrat controlled Congress Bush passed on a deficit around 400 billion which Obama more than quadrupled.

Projected budget deficits from the Obama administration all the way up until fiscal 2020 shows deficits at the least more than double any Bush and GOP deficits. In fact in fiscal 2010 the budget deficit EACH MONTH is more than any YEARLY deficit during the Bush administration and GOP majority in Congress. I am not defending the huge spending and government growth under Bush, I totally disagreed with it but facts are facts. While Bush and Republicans were not good fiscal stewards, Obama and clan make Bush and the GOP look like spend thrifts !

When Obama introduced his 2011 budget he had the gall to again blame Bush by claiming that the wars in Afghanistan and Iraq were the cause for the deficits. Notice again in the graph that during the final four Bush years with the wars taking place, the budget deficits were not even close to Obama's. So the blame Bush garbage is not only not acceptable but not true.

Spending and deficits have exploded with the total liberal rule of Barack Obama and the Pelosi/Reid Congress. When Mr. Deficit, Barack Obama points his accusing finger at George Bush he not only is deceiving the American people but needs to seriously look in the mirror and point at the true culprit for our fiscal madness, Barack Hussein Obama !

Ken Taylor

13 Comments:

Anonymous cheap r4i software said...

At every opportunity Barack Obama has placed the blame for the massive federal deficit on former President George Bush. Still claiming after more than one year in office that he, "inherited,".

2:45 AM, February 04, 2010  
Blogger Marie's Two Cents said...

It is time Obama, man up and declare this is now his economy!

The Liberals were in control of the House and Senate 2 years before Bush left office, it's their incredible mess.

But people tend to forget that.

Well I think people are beginning to wake up ever so slightly that Obama is nothing but a Liar and a Cheat!

We will see all along the way till November :-)

The Silent Majority Rules
:-)

1:22 AM, February 05, 2010  
Blogger Annemarie said...

Few points you missed:

1. President Bush' $700 billion TARP expenditure and other program costs fell into the 2009 budget that you're blaming Obama for. "Other actions with large financial consequences
have been taken by the Federal Reserve, the central bank of the United States. So far, the largest financial effects of these actions have not yet appeared in the financial statements or the budget, but they will show up in FY 2009,and they will likely result in continued historically high budget deficit and net operating cost levels" - Page 8 of Paulsen's US Treasury Report for 2008!
2. US Govt. fiscal year ends on September 30. Final Qtr expense always is added to next year's budget.
3. By the time CBO issued its new projections on January 7, 2009 — TWO WEEKS BEFORE OBAMA"S INAUGURATION — it had already put the 2009 deficit at well over $1 trillion.
4. Majority of $459.3 billion increase in 2009 net outlays over 2008 was due to TARP & investments in Govt-sponsored enterprises.
5. Tax revenue collected decreased by $379.3 billion in 2009, due to weakened economic conditions & high unemployment.
6. Two Bush Administration policies — tax cuts and the wars in Iraq and Afghanistan — accounted for over $500 billion of the 2009 deficit and will account for almost $7 trillion in deficits in 2009 through 2019, including the associated debt-service costs.
7. Bush/Cheney invasion of Iraq was deficit-funded (Obama was against Iraq war. US Govt is still paying for debt-service of its almost $2 trillion costs. Debt-service costs $64 billion through 2008 and will total $683 billion in 2009-2019($119 billion in 2019 alone).
8. Republicans rammed 2003 deficit-funded Medicare Rx Modernization ACT (MMA)through Congress, 217 GOP votes to 9 Dems. To-date, GOP MMA costs through 2019 are estimated at around $1 trillion (over $120 billion in 2019 alone)& have added $7+ trillion to Medicare's unfunded liability.
9. Bush 2001, 2003, 2005, 2008 tax cuts were also deficit-funded. Opposed by Democrats and rammed through Congress by Republicans using Reconciliation, the tax cuts expire in 2010 & account for $1.7 trillion in extra deficits in 2001 through 2008, and $3.4 trillion in 2009-2019 period. Extra debt-service costs caused by the money borrowed to pay Bush-era tax cuts added $200 billion through 2008 and $1.7 trillion in 2009-2019 period, with $330 billion in 2019 alone.
10. Above 3 massive deficit-funded policies are exclusively the responsibility of Bush, with billions in annual debt-servicing costs that will burden Obama's budget in every year of his administration.
11. Economy was in free fall in January 2009, 741,000 jobs lost in January (biggest monthly loss in 60 years)and 651,000 lost in February - Obama can't be held accountable for either months. Added to 11 million total jobs lost by YE 2008 + Jan/Feb 2009 = Obama inherited 12,392,000 unemployed....after his Stimulus Act was pipelined in March 2009, by year end Obama administration had ended the free fall, economy grew by 2.8% in 3rd Qtr & 6% in 1st Qtr 2010 and job loss rate reduced.

9:42 PM, March 05, 2010  
Anonymous Anonymous said...

lmao

http://en.wikipedia.org/wiki/History_of_the_United_States_public_debt#Changes_in_debt_by_presidential_terms

The President proposes the budget for the government to the US Congress. Congress may change the budget, but it rarely appropriates more than what the President requests.[13]
Economist Mike Kimel notes that the five former Democratic Presidents (Bill Clinton, Jimmy Carter, Lyndon B. Johnson, John F. Kennedy, and Harry S. Truman) all reduced public debt as a share of GDP, while the last four Republican Presidents (George W. Bush, George H. W. Bush, Ronald Reagan, and Gerald Ford) all oversaw an increase in the country’s indebtedness.[14] Economic historian J. Bradford DeLong, former Clinton Treasury Department official, observes a contrast not so much between Republicans and Democrats, but between Democrats and "old-style Republicans (Eisenhower and Nixon)" on one hand (decreasing debt), and "new-style Republicans" on the other (increasing debt).[15][16]
Bruce Bartlett, former domestic policy adviser to President Ronald Reagan and Treasury official under President George H.W. Bush, attributes the increase in the national debt since the 1980s to the policy of "starve the beast" and an aversion for tax increases.[17][18][19][20] Similarly, David Stockman, director of the Office of Management and Budget under President Ronald Reagan, as op-ed contributor to the New York Times, blamed the "ideological tax-cutters" of the Reagan administration for the increase of national debt during the 1980s.[21]

11:14 AM, March 13, 2012  
Anonymous Anonymous said...

lmao

http://en.wikipedia.org/wiki/History_of_the_United_States_public_debt#Changes_in_debt_by_presidential_terms

The President proposes the budget for the government to the US Congress. Congress may change the budget, but it rarely appropriates more than what the President requests.[13]
Economist Mike Kimel notes that the five former Democratic Presidents (Bill Clinton, Jimmy Carter, Lyndon B. Johnson, John F. Kennedy, and Harry S. Truman) all reduced public debt as a share of GDP, while the last four Republican Presidents (George W. Bush, George H. W. Bush, Ronald Reagan, and Gerald Ford) all oversaw an increase in the country’s indebtedness.[14] Economic historian J. Bradford DeLong, former Clinton Treasury Department official, observes a contrast not so much between Republicans and Democrats, but between Democrats and "old-style Republicans (Eisenhower and Nixon)" on one hand (decreasing debt), and "new-style Republicans" on the other (increasing debt).[15][16]
Bruce Bartlett, former domestic policy adviser to President Ronald Reagan and Treasury official under President George H.W. Bush, attributes the increase in the national debt since the 1980s to the policy of "starve the beast" and an aversion for tax increases.[17][18][19][20] Similarly, David Stockman, director of the Office of Management and Budget under President Ronald Reagan, as op-ed contributor to the New York Times, blamed the "ideological tax-cutters" of the Reagan administration for the increase of national debt during the 1980s.[21]

11:14 AM, March 13, 2012  
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