That statement above is the reason why the Bush Administration had such a terrible time with economic balance. Spend spend spend on war and failures in economic theory and don't care because the deficits don't matter.
The Bush Administration started out with a surplus, $5.6 trillion. Where did they go with that surplus? Into the greatest economic disaster since the Great Depression. The administration burned the surplus into a $10 trillion deficit.
A report by the U.S. House of Representatives Committee and the Budget on July 31, 2008, is actually titled "The Bush Administration’s Failed Economic and Fiscal Record."
Republicans today are talking about how they are the party of fiscal conservatism and responsibility. But where were they when the previous President was racking up debt in Iraq and through failed economic policies?
There was no outcry when the debt was piling up during a Republican (conservative) administration, yet the current stimulus bill was a work of the devil himself to House and Senate Republicans. John McCain referred to the stimulus as "generational theft," whereas the war in Iraq and the idiotic tax cuts that failed to help the economy were sound policies and practices. Nobody has to pay that $10 trillion debt back? My generation does not have to pay back the failed war in Iraq that is now nothing more than a money-sinkhole? We do not have to pay back the failed tax cuts that did nothing for the majority and only helped widen the income gap?
$10 trillion debt coupled with a great economic disaster brought on by a failure of a presidency isn't worth an outcry but a stimulus that is seeking to alleviate the pressures is? Something doesn't fit right. I bet the solution is to go back to the "solutions" that helped us get into this mess.
No comments:
Post a Comment