POLITICAL observations & opinions

* those who are arguing that the Democrats caused the current deficit and debt limit crisis are NOT entitled to their own facts … here are the facts

Posted by Lew Weinstein on August 1, 2011

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somewhere between Clinton & Obama, the balanced budget got lost

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Paul Begala writes for the Daily Beast (7/30/11) …

  • There it sits, lonely and forlorn on my shelf. A leather-bound copy of the 1999 Budget of the United States of America. A gift from President Clinton to the folks on his team, it was the first balanced budget in decades.
  • But it wasn’t supposed to be the last. Indeed, experts projected surpluses as far as the eye could see.
  • It didn’t quite work out that way, did it?
  • It was a Republican House, a Republican Senate, and a Republican president who squandered the surplus.
  • Specifically, they did four things:
    • cut taxes (with a heavy tilt toward the rich),
    • waged two wars on the national credit card (one of which was against a country that had nothing to do with 9/11 and posed no serious threat to America),
    • passed a prescription drug benefit with no pay-for (the first entitlement in American history without a revenue source),
    • and deregulated Wall Street (which helped turn the American economy into a casino and touched off the Great Recession).

read the entire post at  … http://www.thedailybeast.com/articles/2011/07/29/republicans-on-the-debt-ceiling-screwing-over-america.html?om_rid=Nsjkcc&om_mid=_BONAKsB8chDdsU

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LMW COMMENT …

Those Tea Party and other Republicans who blame Obama and the Democrats for the current condition of our government finances are either (1) ignorant of the facts or (2) simply telling a lie.

And for those same people to want to solve the problem on the backs of the middle class while maintaining the Bush tax cuts for the wealthy is outrageous.

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