Why Democrats Make Sore Winners.

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Team Obama Blames Bush For Their Trillion Dollar Spending Binge.

Team Obama is already blaming Bush for their record $1.75 trillion budget deficit.

And, just like how Obama and the democrats lied about the the last 8 years of economic growth, they are hoping that the media will play along with them and blame Bush for the dangerous deficit they have already racked up in Obama's first 40 days on the job.

To be clear-- those failed Bush policies dropped the deficit 4 of 8 years, held an average unemployment at 5.2%, saw the strongest productivity growth in 4 decades and witnessed robust GDP growth.
Bush was able to do this despite the recession he inherited, 9-11, Hurricane Katrina, and wars in Iraq and Afghanistan.

 

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Obama Says U.S. Long-Term Debt Load ‘Unsustainable’

May 14 (Bloomberg) -- President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

Earlier this week, the Obama administration revised its own budget estimates and raised the projected deficit for this year to a record $1.84 trillion, up 5 percent from the February estimate.

The White House Office of Management and Budget also projected next year’s budget will end up at $3.59 trillion, compared with the $3.55 trillion it estimated previously.

Two weeks ago, the president proposed $17 billion in budget cuts, with plans to eliminate or reduce 121 federal programs. Republicans noted that Obama is seeking an $81 billion increase in other spending.
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He says the words, but he just can't help himself. He's a Democrat!

I guess that's what you get when you hire a community organizer to do a president's job.

 

[faethor]

He says the words, but he just can't help himself. He's a Democrat!

Certainly the Republicans never cry for fiscal responsibility and fail to deliver. :roll:

Face it we're screwed with either party!

 

[redrumloa]

Certainly the Republicans never cry for fiscal responsibility and fail to deliver. :roll:

Face it we're screwed with either party!

I gotta agree (mostly) with faethor again... Twice in one day, is that a record :?:

We're screwed with either party, it just seems to me we are far more screwed with this administration.

 

[metalman]

He says the words, but he just can't help himself. He's a Democrat!

"Warp drive spending!"

 

[FluffyMcDeath]

He says the words, but he just can't help himself. He's a Democrat!

"Warp drive spending!"

They're only printing money to cover the spending that's already been done. All those houses that people got mortgages for? They are real - they've been built with real labour, real lumber, real materials (except those that banks and cities have paid to have knocked down!! - they WERE real but now they're really gone.)

So money was borrowed into existence, real wealth was created from that money but now the real wealth that exists is not valued high enough to pay back the money that was created to finance it so the government is creating the money to cover the temporary money the banks created. This is private debt - debt that American private citizens got themselves into - it's just being transferred.

There's about 4 trillion dollars in that mess but most of it can be shuffled around. A trillion or so has been promised for a float to keep the game going.

But let's not forget that the wars in Iraq and Afghanistan have cost 2 trillion, and Dubya's tax cut to the rich cost 3.4 trillion, so there's five and a half trillion there, 6 or 7 with interest. You're starting to talk about some real money there.

Oh, and remember the press conference that Rummy had on the September 10th 2001? The one where he announced that the Pentagon couldn't account for 2.3 trillion dollars? No - nobody remembers that - the next days news wiped it off the front page.

Then there's the mysterious 9 trillion off book accounts of the Federal Reserve bank.

This mess didn't arrive just yesterday. Too much money has been created and then wasted and there's just more of the stuff floating around than there is stuff to buy with it. Obama's inflationary spree is just making official what already exists.