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kentuck Donating Member (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat May-01-10 02:56 PMOriginal messageThe Obama deficits... Updated at 3:00 PM We were sinking to 6500 in the stock market and there was severe deflation. There were major worries that people would stop spending altogether. We were headed quickly toward a depression.In order to counter this severe downturn, they did the only thing they knew would work - a heavy dose of Keynesian economics. That was the purpose of the huge "Stimulus Bill". There is little doubt that the stimulus and the bailout of General Motors did much to keep us from going off the cliff that the Republicans had led us to.That is why the deficit is large now. However, we cannot forget that George W Bush doubled the debt in eight short years. Never in our history had we had such a huge turnaround from surplus to debt. Bill Clinton had left Bush and the Republicans a surplus of $260 billion dollars and a projected surplus of $5 trillion dollars. Bush turned that into a $5 trillion dollar debt and left a deficit of about $1.3 trillion dollars to President Obama, along with the worst economy since the Great Depression.The Obama deficits are different from the Bush deficits in they were intentionally created to stimulate the economy, unlike the Bush deficits, which were created to give big taxcuts to his friends and to drive our economy into the ground. Is this too complex for "tea-baggers" to understand?
IndianaJoe (160 posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat May-01-10 03:01 PMResponse to Original message1. The Bush Administration was an unmitigated disaster for the United States. We should remember that; remember what Obama and the Dems were left with when Bush exited. It will be many years before the damage that that bunch did will be repaired.We also need to remember that we can't ever let something like the 8 years of Bush happen to us again.
