In a Wall Street Journal column Thursday, Karl Rove, the former chief strategist to President George W. Bush, publicly pushed that line of attack as he accused Obama of "pretending the past three years are someone else's responsibility."As if the economic debacle wasn't George W. Bush's responsibility?!
Tuesday, December 27, 2011
"Someone else's responsibility"
The lead story in the LA Times today, "Obama shifts his message on economy", featured this quote on the inside page:
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5 comments:
I don't believe Bush had much to do with the American Recovery and Reinvestment Act of 2009.
Uh, we're talking about the bubble and subsequent collapse in 2008.
So Bush was responsible, we all know that. And now what? I guess Obama figured out the winning strategy - blame previous administration for today's problems and lack of recovery, over-regulate industries, increase debt while simultaneously expanding government, spread the wealth around, and hope that everything will be okay. A Noble Prize winning strategy!
Basic macroeconomics calls for deficit spending during a recession to stimulate demand, then paying it down when the economy is stronger.
Part of our huge problem now is that G.W. Bush's tax cuts and unfunded wars and Medicare drug benefit turned budget surpluses into a structural deficit when debt should have been retired.
I guess, bailouts and overregulation are considered "deficit spending during recession". Have you tried to open a small business lately? Maybe you should and you will see how this administration is "promoting and helping" small businesses. Gee, no wonder we are in trouble. Socialism is comith - read up on the Socialism so you can understand what kind of beast it actually is and what it actually stands for. Maybe then you'll understand what curent administration is doing.
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