GOP Created Debt, Blames Obama
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This from the uber-liberal nazimarxist propaganda rag, Businessweek (Tues., 26 July 2011), pointing out Republican hypocrisy on the debt the GOP voted to create.
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July 26 (Bloomberg) -- House Speaker John Boehner often attacks the spendthrift ways of Washington.
“In Washington, more spending and more debt is business as usual,” the Republican leader from Ohio said in a televised address amid debate over the U.S. debt. “I’ve got news for Washington - those days are over.”
Yet the speaker, House Majority Leader Eric Cantor, House Budget Chairman Paul Ryan, and Senate Minority Leader Mitch McConnell all voted for major drivers of the nation’s debt soaring the past decade: Wars in Afghanistan and Iraq, the 2001 and 2003 Bush tax cuts, and Medicare prescription drug benefits. They also voted for the Troubled Asset Relief Program, or TARP, that bailed out financial institutions and the auto industry.
A Bloomberg News analysis shows that together these initiatives added $3.4 trillion to the nation’s accumulated debt and to its current annual budget deficit of $1.5 trillion.
Republicans, of course, have an answer; "'Blaming Bush for the structural deficits we've known would come since the early 1990s is beyond irresponsible,' according to Brad Dayspring, a spokesman for Cantor."
Right - except that the mid to late 90s saw unprecedented growth and a budget surplus. That's another one of those liberally-biased facts you can't expect a Republican to acknowledge.
Unfortunately, what you can't sum up in an easy-to-understand chart is the fact that Republicans really don't care about the deficit. It's purely a political issue for them, a cudgel to keep that "tax and spend" mantra against Democrats going.
*****
July 26 (Bloomberg) -- House Speaker John Boehner often attacks the spendthrift ways of Washington.
“In Washington, more spending and more debt is business as usual,” the Republican leader from Ohio said in a televised address amid debate over the U.S. debt. “I’ve got news for Washington - those days are over.”
Yet the speaker, House Majority Leader Eric Cantor, House Budget Chairman Paul Ryan, and Senate Minority Leader Mitch McConnell all voted for major drivers of the nation’s debt soaring the past decade: Wars in Afghanistan and Iraq, the 2001 and 2003 Bush tax cuts, and Medicare prescription drug benefits. They also voted for the Troubled Asset Relief Program, or TARP, that bailed out financial institutions and the auto industry.
A Bloomberg News analysis shows that together these initiatives added $3.4 trillion to the nation’s accumulated debt and to its current annual budget deficit of $1.5 trillion.
Republicans, of course, have an answer; "'Blaming Bush for the structural deficits we've known would come since the early 1990s is beyond irresponsible,' according to Brad Dayspring, a spokesman for Cantor."
Right - except that the mid to late 90s saw unprecedented growth and a budget surplus. That's another one of those liberally-biased facts you can't expect a Republican to acknowledge.
Unfortunately, what you can't sum up in an easy-to-understand chart is the fact that Republicans really don't care about the deficit. It's purely a political issue for them, a cudgel to keep that "tax and spend" mantra against Democrats going.
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