Quote:
Originally Posted by kg_veteran
And to think, you have such logical opinions when we're talking basketball.
The true fiscal conservatives complained about increased spending and expansion of government under Bush. Don't blame us. Blame the people that took over the Republican party during the Bush administration, because they weren't fiscal conservatives.
What's really odd is that you are talking out of both sides of your mouth. One the one hand, you decry the things that Bush did fiscally, but on the other hand you praise Obama. They are both big spenders who believe that printing more government money and borrowing from the next generation is the way to solve problems.
I agree with your point that Clinton (and a Republican Congress) handed the Bush administration a budget surplus. Since then we've had nothing but reckless spending and financial cowardice from Washington. The shame is that if Bush had coupled tax cuts with reductions in spending, we really could have steered this country's financial ship the right way. Instead, we now have to wait for the inevitable to occur -- tax increases AND spending reductions. Unfortunately, no one has the political courage to do what has to be done, so it will likely take a long time and cost a lot more.
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Ideology aside, there is a fairly huge difference between running a budget deficit when the domestic economy is humming along at full employment, and the global economy is in possibly the most benign period in global history versus running a deficit when both the US and global economies are circling the drain.
I am not going to claim that a dem president/congress wouldn't have run up huge deficits in 2005 (for instance) as well... but the fact that it happened was clearly crappy. In 2005 you have the teenager running up the mastercard bill to buy ANOTHER big screen tv ... in today's instance you have the teenager maxing out the visa to repair his used car --- HOPEFULLY it is so the bastage will be able to drive to a damn job if he ever finds one.
But you are correct, also. What Obama and Pelosi need to do RIGHT NOW is start chipping at the 2012-2015 deficit.... those are the ones that are economically scary, because they even at full employment they will be above 4% of GDP and rising.