And some are so blinded to disliking Obama they dismiss the reality of our financial situation and not only what got us here, but what is costing us big in borrowed money and interest payments over now and years to come.
It sure as hell wasn't Obama.
Bush more than doubled our national debt in 6 years. Obama kept us out of a depression, using a necessary stimulus package that most say wasn't even enough as the recession is a slow recovery.
The stimulus packages cost are a tiny part of our national debt obligation -
the cost of which most is already gone, and will be even more so within 2 years - while the borrowing with interest to pay for the Bush debaucle of credit card charging and giving away our revenue is more than half, and is with us for years.
Hard to spin reality. Calling Obama the big spender for domestic spending (which he has cut, including Medicare, although discretionary is only like 16% of our budget) and stimulus - both comprising only a tiny portion of our debt obligation - is ludicrous and not supported by any facts.
The below chart clearly shows how tiny the cost of the stimulus and bailouts were, and how terribly expensive and disastrous increasing spending while cutting our revenue was - because we had to borrow that money with interest, and we are paying it back to China and others forever.
It's the dark gold on this chart that is borrowed money, with interest, that is increasing over time. Thank you, George W. Bush. You didn't even give us a kiss. And yes, Obama should have allowed the tax cuts to expire, so we could already be paying this off. That is essential - that we regain that revenue stream.
That is the threat to our grandchildren. Blaming it on "Obama spending!" is simply false.
05-27-2011, 08:58 PM
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