If I heard it once I heard it four score and seven times, our current deficits are largely the fault of George Bush. Obama inherited the this fiscal mess.
Bush left a deficit, a minor amount compared to our current level of red ink. But what is interesting is that the Democrats controlled Congress during the last two years of the Bush administration. In other words, spending was controlled by the party not in the White House.
Bush is also blamed for pushing through the Medicare drug benefit without funding the new liability. Guilty on that one, so what do Democrats do, they expand the already unaffordable benefit.
Here is an excerpt from the Washington Post in January 2007:
“It’s amazing what an election will do,” said Rep. Jim McGovern (D-Mass.).
Today, Democrats hope to pass new rules to promote open deliberations in the House, rein in special-interest spending and lawmaker pet projects, and prohibit passage of spending or tax measures that increase the federal deficit.
Over the next two weeks, Democrats in the House plan to enact new homeland security measures, increase the minimum wage, allow federally funded stem cell research, permit the federal government to negotiate lower prescription-drug prices for Medicare beneficiaries, cut student-loan interest rates and fund alternative-energy research by rolling back tax breaks for oil companies.
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