2009: Barack Obama inherits a $1.3 trillion deficit from Bush. It’s a simple fact that most of this deficit was already budgeted during the Bush years; yet the Republicans immediately condemn Obama’s fiscal irresponsibility. There is no getting around the fact that the Republican track record for deficit spending is abysmal or that the Great Recession began for the entire world in the eighth year of their watch under George Bush II. Not only has personal income for ALL segments of the population (except the top 1%) done worse during Republican administrations over the past fifty years, but the United States’ gross debt has skyrocketed under every Republican administration from the beginning of Nixon’s second term onward. That’s a numerical fact, and their feet should be held to the fire for it. Moreover, the top five percent of the U.S. populace pays a lower percentage of income taxes in proportion to their total wealth than do the bottom ninety-five. (See “Bush Whacked by the Bush Tax Cuts.”)
Posted on: Sat, 05 Oct 2013 21:38:44 +0000
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