Translation: I can never accept facts.NEVER seen such spinBush was far and away a superior leader to Obozo. That's not to mention as a human being, where Bush should have been Obama's owner, not his predecessor.The truth running a proper fiscal policy is not all about cutting taxes.
Look at Europe, up until the Banking Crisis (when all bets were off) they run fiscal conservative policies. Why? because we don't have endless credit.
We are all meant to be under 60% under the Maastricht Debt Treaty and we were holding that until the banking crisis..
Ideally, The way it works is simple in good times to take from the economy to slow the boom and in recession you spend to drive the economy through the slump. This is basic macroeconomics.
Some countries are better doing this than others, Switzerland and the Scandinavians are generally good. Ireland lost the run of themselves in the good times. But just like a football coach some plays a runs and others are passes...
Bush made a dogs ear of this by cutting taxes during a war.In a war you are already spending and borrowing money to pay for the war. He hid this in Emergency War Funding which was left off the books.
Obama ended this and put war funding back on the books:
The Obameter End the abuse of supplemental budgets for war PolitiFact
So even without the banking crisis the method of accounting for wars was screwed.
So Obama was dealt a bad hand from his predecessor. He took control and has reduce the amount needed. US is now borrowing less that it did in 2003 or 2004 when the GOP had total control (per GDP).
Excellent post.
It would be fascinating to see an impartial overview of the state of the economy each president inherited during the past 100 years. I suspect no president has ever inherited the mess Obama inherited, and that nust be taken into account when evaluating his presidency.
That is not to blame the meltdown entirely on rhe GOP either - but merely to be objective about what Obma started with in comparison to those who came before him.
Well, if Obama was not cut out to handle the job, then perhaps he should not have run for president. After all, it was HE who said he could fix everything.
Well he was looking at Bush screwing up at incredible levels and thought he could do a better job than he did...
The thing is you have to judge a president, did he leave it better than he found it...
Obama has improved things. Therefore Obama is a success.
Bush is a failure...
Simple..
Bush inherited a recession. Bush inherited an unprecedented terror problem. Was Bush perfect? No. But he had a tough hand.
Obama inherited an economy on the mend. Obama inherited a successful Iraq War and a stand off in Afghanistan. Obama inherited terrorists on the run. He inherited $10T in debt and a AAA rating. He inherited a huge amount of good will both abroad and at home.
And in six short years he's managed to turn everything to shit.
Thanks for the amusement
Thanks for the confirmation.