Biden pointing the finger at ???????

I’m taking a little leap of faith here that the quote below is legitimate so assuming it is, isn’t that an amazing perspective? The Democratic Party had four straight years in control of Congress including the first two years of the Obama administration to fix whatever it wanted. Today we are spending about $4 billion dollars a day in excess of federal revenue with no attempt by either party to place even long term solutions in place. Instead we hear about who to blame.

It’s true Biden did not vote for Part D of of Medicare, but he sure supported expanding it rather than assuring the original plan was funded. And he surely supported massive deficit spending in the last four years even proposing taking a so-called peace dividend from winding down the wars and spending that on new programs rather than using it to close the spending gap.

Neither Biden or the Democrats should take all the blame, Republicans are equally irresponsible. Now we are facing a European style crisis. Who is going to tell the American people the truth that we have over committed and over spent and over borrowed and the truth about what it will take to fix it; nobody so far that’s for certain. Then there is the real question. Should such a person come forward will Americans face the truth and accept the medicine or like Europeans vote for more of the same because it’s easier to find new scapegoats.

The great recession was not caused by spending, the root cause was the housing bubble created in large part by government policy (left of center policy) to promote home ownership even for those who could not afford it. As demand rose prices rose and as the problem compounded it was pushed by the massive withdrawal of home equity leaving millions of Americans financially exposed largely of their own doing. You can blame the banks all you want for their shenanigans taking advantage of the situation, but this would not have occurred without the initial government intervention pushing a social agenda and without short-sighted and outright dumb homeowners doing dumb things.