I replied to this point in another thread but it never got a response...I will highlight the few main points again:
- Washington set to tax $33 trillion and spend $46 trillion over the next decade, how does one determine which policies will "cause" this $13 trillion deficit?
- Social Security ($9.2 trillion over 10 years)
- Antipoverty programs ($7 trillion)
- Other Medicare spending ($5.4 trillion)
- Net interest on the debt ($6.1 trillion)
- Non-defense discretionary spending ($7.5 trillion)
You also in that thread argued it cost $700 billion a year to service the Bush debt -- something which is patently false. You can blame deficits on whatever you want -- but simply highlighting things Bush did and then blaming him for all the debt is absurd.
Did I blame him for ALL the debts? did you even look at the two graphs that I offered?
It is obvious that the Iraq war was Bush's decision. . .and the cost of that war (paid with a Chinese credit card) continue to be carried to this day. . .and probably for the next 30 to 40 years, through the need to fund the Veterans Affairs department to assist our returning Veterans, including those who are disabled and their family. (this amount to anywhere between $75 billion and $100 billion a year and it is independent from the defense budget).
It is also obvious that the bush tax cuts were NO ONE ELSE than Bush's. . .and that they continue to affect our budget. How much does it affect our budget? Those numbers are also provided in the graph and the text I offered.
The fact that the 2008 crash provoked a SEVERE economic downturn that is taken us 3 years to reverse (and even then, at a slow pace due to the WORLD economy which has ALSO been impacted by the 2008 crash) is OBVIOUSLY not President Obama's fault. . .you can argue that it isn't Bush faults either. . .and we can disagree on that! But the fact is that the downturn in the economy and the consequences in lower revenues entry, which increased the deficit is NOT to be attributed to Obama.
Even SOME of the antipoverty programs are NOT fully Obama's responsibility, as the NECESSITY for many of those (including unemployment benefits and welfare programs) were much increased BECAUSE of our economic downturn provoked by the 2008 crash.
Now, obviously, the Medicare spending and the non-defense discretionary spending are the responsibility of EVERY PRESIDENT during their tenure. . .so you can look at it as President Obama's responsibility.
However, the INTEREST ON THE DEBT is ONLY partially Obama's because, most of that debt was NOT created by Obama.
It is simple. . .if you divorce, and your first wife had purchase a home that was above what you could afford, and furniture that you didn't need but that were bought on a credit card IN YOUR NAME, would you feel that it is your NEW WIFE's responsibility to pay for all the credit card expenses that incurred BEFORE you were divorced, and to pay for all the interest rate that accumulated prior to your marriage with your second wife? I don't think so!
But basically, this is what you are doing with President Obama's current deficit. You are "assuming" that he came in with a CLEAN SLATE in terms of deficit, and that everything that has accumulated since he took office is HIS responsibility! Well, the slate was NOT clean when he took office, and the interest rates that accumulate every year INCLUDE interest rates on the list of items that were purchased by GW BUSH, the items that are necessary to maintain our government and our economy (infrastructure, medicare, social security), which are items that EVERY President has ONLY Partial responsibility for, since they were established many years ago by a predecessor and everyone agrees that they have served a very useful purpose ever since, and the expenses that the new president ADDS to the list of expenses and debit that was already in place prior to his inauguration.
By the way, the bailout was "bought" by Bush. . .not Obama, although Obama agreed to it!
Now, I suggest you go back and look a little more closely at the graphs, and try to figure out if it is REALLY honest to put on Obama's "deficit bill" the servicing for the expenses (such as the war in Iraq, prior to 2009, the Bush tax cuts, prior to 2009, and the deficit incurred for the antipoverty programs from prior to 2009).
If I name a 700 billions number for the servicing of the debt at this time, it is because I found it during my research. I do not know if I gave the link or not (I will check), but I certainly didn't pull it out of my hat! And IF I didn't offer a link for that number, I will be happy to do a research again and provide you with that link.
Once and for all. . .in spite of the nastiness and the attempts to ridicule everyone of my posts by the majority of posters in this forum, I NEVER make a statement that does not result from a mixture of my own opinion AND research to back up my opinion (or to revise it) into reliable sources.
I realize that this is not the usual pattern in this forum. . .but this is my way of expressing myself, instead of just spewing unsubstantiated opinions.
