Stop Blaming Obama for the Deficit
The Republicans make a great show of being newly 'fiscally responsible' and deploring the Federal debt run up under President Obama. But, like those who claim that taxes have gone up (that will be another article), they are deliberately ignoring the facts. Let's look at our first graph:
President Bush made a deliberate policy of cutting taxes for the wealthy while the Republicans who controlled Congress for much of the period went on a spending binge. As a result, the hard work that President Clinton had done to turn an inherited deficit into a surplus was wiped away and more.
Now let's look at the claims that President Obama is not doing anything about the recesssion. Who's recession is it anyway. This graph tells the story pretty well.
While we're far from being out of the woods, the economy is moving in the right direction. But there's a lot of concern out there about jobs. Certainly more needs to be done to stimulate job creation, but the rate of job loss has slowed dramatically under President Obama, as this chart shows:
We can see that substantial progress has been made. Is there a long way to go? For sure, but under President Obama we've begun moving in the right direction.
