But That was Long, Long Ago:
Obama Tripled the Deficit, Now Brags He Cut It in Half
Familiar is the parable of the boy who murders his parents, then seeks leniency because he is suddenly an orphan. When it comes to budget deficits, Barack Obama is more like the boy who knocks off his parents, then brags that he drove them to the morgue.
While his public approval rating plummeted this week to a new low of 37%, here was Obama in a press conference rationalizing his refusal to even negotiate over the nation’s debt limit: “Don’t tell us that the government is going bankrupt, when the deficit has been cut in half!”
The only problem is that Obama tripled the deficit before he cut it in half. As a result, he has only accelerated the government toward bankruptcy. Consider that when he ran for the White House in 2008, the deficit was $498 billion in inflation-adjusted dollars.
On the campaign trail that summer, Obama labeled that so severe as to be “unpatriotic”:
While his public approval rating plummeted this week to a new low of 37%, here was Obama in a press conference rationalizing his refusal to even negotiate over the nation’s debt limit: “Don’t tell us that the government is going bankrupt, when the deficit has been cut in half!”
The only problem is that Obama tripled the deficit before he cut it in half. As a result, he has only accelerated the government toward bankruptcy. Consider that when he ran for the White House in 2008, the deficit was $498 billion in inflation-adjusted dollars.
On the campaign trail that summer, Obama labeled that so severe as to be “unpatriotic”:
“The problem is that the way Bush has done it over the last eight years, is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first forty-two presidents – number forty-three added $4 trillion all by his lonesome – so that we now have over $9 trillion of debt that we’re going to have to pay back - $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic!”
So what did Obama do with that “unpatriotic” level of deficit spending? He tripled it, and gave us the single worst economic recovery in U.S. history.
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