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Edited on Mon Jul-11-11 03:55 PM by Jack Sprat
During the late 70s, Pres Carter was very concerned about 900B debt and tried miserly to decrease spending on everything from bringing the 8th Army home from S. Korea to shutting off the White House Christmas lights after hours.
But when Pres Reagan replaced him 1980, suddenly the deficits and debt didn't matter anymore. It was as if running deficits were healthy growth as a percentage of GDP. The deficits and debt skyrocketed to a record level as Reagan increased spending to an equivalent of all preceding presidents since Washington combined.
When George H.W. Bush succeeded him and the deficits and debt rose to new all-time highs, again there was no talk from republiCon conservatives about any problem with American debt.
When Pres Clinton succeeded Bush, then all the republiCONS could focus on was out of control government spending and the debt. Clinton, who raised taxes, oversaw tremendous job and business growth and erased the deficit in his last 3 budgets. This decreased the interest payments on the debt and it was anticipated by many that the actual national debt would be paid down much sooner than ever expected. Then came disaster. The SCOTUS appointed George W Bush (shrub inc) to the presidency.
Shrub inc immediately reduced taxes and even instigated a longterm war and occupation of Iraq, plunging the USA into deep deficits, record national debt, and a deep recession at the same time. Very few natural born idiots could have done so much damage. Yet again, Americans were told by republiCONS that deficits were indeed healthy for the economy.
Inheriting a new record high deficit, debt, housing market crash, market crash, emergency bailout of AIG and banks, a Democrat is elected to the presidency. All you can hear again is republiCON teabaggers screaming about the out of control spending, deficits, and debt; desperate in their tones, they are warning of apocolypse and clamoring for spending cuts for all social spending. Nevermind that it was THEM who expanded the debt by far the worst. Nevermind that they are holding the country hostage with threats to force America into default by refusing to raise the debt ceiling. Never mind that their immovable position on refusing to raise taxes on the wealthy helped get us to this point. NO, they blame social spending by Democrats as the cause of the crisis and insist that those most in need of money, at the lower end of the income ladder, be required to take cuts in their social security and pay more for medicare. Out-friggin-rageous.
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