Then why did he immediately begin posting deficits instead of the surpluses that Clinton was paying down the debt with?
Did Pres. Obama cut the Bush tax cuts, or did he end up keeping them? I would google it, but I'm a little lazy today. Little lazy everyday FWIW
He extended them in hopes of keeping a Dem majority in the House. It didn't work, so now he's going to tax the hell out of the only people who have a chance to stimulate the economy. Then he's going to spend that revenue (which will be a net loss over what he'd get if he kept them in place) on social and quality of life programs.
Bullchit! If they were going to stimulate the economy why haven't they done so with ten years of tax breaks! The stats show that they just made bigger piles of wealth. They are not spending it to stimulate the economy. The economy tanked under the GOP's "favor the rich and the big corporations" plan. They both just sit on huge amounts of money. Nothing trickles down to the middle class. It's a lie.
The economy tanked because of 2 wars, an ill advised prescription drug benefit and the housing collapse. All on Bush, even though revenues increased during his term. Obama's efforts to revitalize by spending and more spending has failed miserably. There has been zero job growth, the housing market is in shambles and the deficit has increased under Obama's watch by more than Bush and his predecessors combined. We are still fighting 2 wars and on the fringes of a 3rd. There is a tremendous uncertainty about what Obama has planned which is the reason why capital is being hoarded and not put into the economy. Tell me again how Obama is going to save us?
They did do so. Are you unfamiliar with the massive boom in the economy that occured between 2003 and 2007? Are you unaware that federal revenues increased every year after the Bush tax cuts until 2008, and even when they dipped in 2008 they were still above collections in 2002? The problem is that Bush spent like a madman and never met a Muslim he didn't want to kill.
Noted. Nonsense. Every country in the world stimulated their economies to keep the recession from turning into a depression. The GOP would have done the same if in office. And it hasn't failed. The recession is over, retail sales are up, the GDP is rising, the market is rising, and unemployment is dropping. Untrue. New jobs are up LINK. Unemployment is down LINK. Only if you project Obama's budget 10 years and add Bush's unfunded mandates to "Obama's" budget over that period, as well. All on Bush. We are all but gone from Iraq already and are responsibly withdrawing from Afghanistan. Hey, since when are you an advocate of withdrawal from any war? :lol: Well, we remember exactly what the GOP plan will bring. More wars, more bailouts, more financial collapses, more irresponsibility, and just as much non-defense spending increases as the democrats. But it's OK, the corporations and the billionaires will do just fine.
And we are supposed to expect that the next republican is going to be any better? Not from their rhetoric, amigo.
