Quote:
Originally Posted by shakran
No, it's realism. For three decades now people have followed the republican borrow-and-spend mantra. The republicans bankrupted the government doing it. And people bankrupted themselves. Now they're figuring out that buying everything on credit isn't such a hot idea and maybe instead of buying the new shiny, it's time to pay off some old debt.
Do you understand the difference between the deficit and the debt? The deficit is not cumulative, the debt is. Yes, he's having to spend a lot of money now, because the republicans screwed everything up so badly. But that doesn't mean he can't cut government spending in the future.
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Sorry, does not compute. The problem arose because Jimmy Carter created the CRA, Clinton expanded it, and built a house of cards upon real estate. He further lucked out by getting out of office as the dot com bubble burst, although to hear him tell it, everything was fine in his term.
Bush managed to stave off an economic meltdown in spite of 9/11 by cutting taxes. However, the combination of Democrats taking over Congress in 2006, and their totally mercenary defense of Fannie and Freddie, finally imploded our entire economy. Nice work Barney, Chuckie, Chris, Harry, and Nancy. Why would anyone not trust you to fix the problems you created?
Back to Obama's performance. Geithner, Killefer, Daschle, and now Kirk. Eric Holder is no slouch, either--how much money did Marc Rich's pardon cost again? Obama's appointments make Bush look like a genius!
Good thing our country has no economic problems. If that were not the case, we might think Obama was a fucking dunce for promising $900 million to the Palestinians. If the news media mentioned it, that is.
I am IMPRESSED with how rapidly a community organizer can ruin the lives of average Americans. But hey, as long as he delivers outrageous promises (triple spending, halve the deficit) in impressive sounding speeches, NBC, CBS, and ABC will continue to hide the truth, for whatever reason.
P.S. Someone might want to mention to our financial wizard president that it's "PRICE/Earnings," not "Profit/Earnings."