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A Further Perspective
Gradually, Then Suddenly
Obama’s Hemingwayan road to national bankruptcy.
It is not often that one sees Ernest Hemingway cited in an article on the federal budget and fiscal situation. But that is what GOP House Budget Chair Paul Ryan (R-WI) and Senator Jeff Sessions (R-AL), ranking member of the Senate Committee, did in a recent Washington Post op-ed on President Obama’s last budget of his first term. It is truly a sorry thing.
The Republican leaders note that for four straight years, the federal government’s budget deficit has “eclipsed $1 trillion,” with the national debt now exceeding the size of the U.S. economy. President Obama’s budget basically “concedes” that, in the years ahead, the nation’s “fiscal position gradually deteriorates.” This, write Ryan and Sessions, “is reminiscent of Ernest Hemingway’s explanation of how one goes bankrupt: ‘Gradually, then suddenly.’”
Notwithstanding Obama’s claim of $4 trillion in deficit reductions (the end of the war in Iraq, tax increases, etc.), “Under his plan, the government is projected to borrow $11.2 trillion over the next ten years,” argue the two legislators. “The budget does not change our debt trajectory.” The last budget of his term reveals, clearly, Obama’s failure to deliver on his promise “to cut the deficit in half by the end of his term.”
“We see serious danger in shrugging off the president’s dereliction of duty — a danger compounded by Democratic leaders in the U.S. Senate, who have refused to offer any budget at all for more than 1,000 days,” note Ryan and Sessions. They justly criticize the President and Senate for ducking “the most predictable economic crisis in our nation’s history.”
If you want to see an example of the administration’s evasiveness, embodied in the flesh, you can check out the video of Treasury Secretary Timothy Geithner testifying before Ryan’s committee, wherein he essentially admits the administration does not have a budget plan for the long term. They just don’t like Ryan’s. Pathetic.
This latest budget to nowhere, except, maybe, national bankruptcy, is predictable as it is depressing. When the book is written on this era of our nation’s history, President Obama and Senate Majority Leader Harry Reid will not be wrapped in glory. It was certainly great fun, and accurate, for them to blame President Bush and Tom DeLay for at least some part of our current predicament; but that does not exonerate the Democratic White House and Senate for four years of neglect and inaction, especially given the willingness of the House Republicans to face the music by voting for the only plan to meet the entitlement crisis head on, i.e., Paul Ryan’s. Obama and Reid, ignoring the President’s own Simpson-Bowles Commission, have basically been playing a passive-aggressive game of rope-a-dope.
One Democrat has demonstrated the courage to at least discuss common ground with Paul Ryan, Senator Ron Wyden (D-OR), who was immediately pummeled by the reliably liberal columnist, Paul Krugman of the New York Times. Krugman called Wyden a “useful idiot” of the Right, a clear case of no good deed going unpunished by the leftwing thought police.
The Wall Street Journal editors outlined the immensity of the mess that is Obama’s fourth budget, observing that we will now have had four years of spending more than 24 percent of GDP, the highest spending years since 1946 at the close of World War II. “All of this has added an astonishing $5 trillion in debt in a single Presidential term” with the national debt held by the public, “the kind you have to pay back,” hitting 74.2 percent this year and rising to 77.4 percent next year.
Adding insult to injury, taxes are also going up substantially. Capital gains taxes will go from 15 to 30 percent as will taxes on dividends. And the estate tax rises to 45 percent from 35 percent. Looming, out there on the horizon, are other taxes including the expiration of the Bush tax cuts, the big bonanza for the party of continued and unrelenting government spending and another excuse for putting off any reform of entitlements and non-discretionary spending.
Hope and change? It sounds more like a Hemingway story.
About the Author
G. Tracy Mehan, III served at the U.S. Environmental Protection Agency in the administrations of both Presidents Bush. He is a consultant in Arlington, Virginia, and an adjunct professor at George Mason University School of Law.
Letter to the Editor View all comments (91) | Leave a comment
More Articles by G. Tracy Mehan, III
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Bill Hussein O'Stalin| 2.20.12 @ 7:37AM
The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.
Ernest Hemingway
Balthazar| 2.21.12 @ 1:32AM
Bush opted for war, defeating inflation with a 1% Fed rate. Returning it to normal proved the complete failure of deregulation and now the RED menace is crying about paying the piper for their little decade long dance of excess and decadence that has left America financial bereft.
Not much has changed with the Hoover style of continued Republican economic failure. it's time for BHO to FDR these RED SOB's.
51 more points up and the stock market is in Clinton era territory once again, up from the 6500 place GWbullshit collapsed it to. 5/10's of a percent and the umemployment figures will be where, despite blind obstructionism and racist refusal to operate Congress as sworn to in their oath of office, Obama said he could get it.
Was the bus late, yes! Because the RED menace is carrying too much excess baggage. 4 decades old lost arguments that will never be changed by law.
I can see a future America without a single WHITE President in the next 3 decades. Why? Because even honest white men should never trust a WHITE sheet wearing conservative.
O.F. A.N. A.S.S.| 2.21.12 @ 3:20PM
Even sheep are not fooled by an intellectually 'elite' liberal democrat Markist scab snot bubble sodomizer whether the intellectually 'elite' liberal democrat Markist scab snot bubble sodomizer refers to his sodomizing bubble snot scab Markist democrat liberal 'elite' intellectual self as Balthazar or Diogenes or Orr, Gasm and Associates or jharp or fckewe.
Ovines For
A Nation
Absent Species Sodomization
John Daniel| 2.20.12 @ 7:46AM
Hyperinflation - probably precipitated by a spike in gas prices this Summer - followed by collapse of the currency. We are doomed.
Von Mises Jr.| 2.20.12 @ 9:11AM
Exactly, Bill and John. There was a documentary last night on the Revolutionary War and the Constitution. At the end of the War with England; hyper-inflation destroyed commerce, our soldiers remained unpaid, and those that had fought for freedom were facing foreclosure and ruin.
Our Founding Fathers convened in Philadelphia to cobble together the greatest Constitutional contract between a people and their government in history.
A financial collapse and pending personal ruin will give Soros, Obama, Clintons and their ilk an opportunity to reconstruct the crises. This time they hope to devise a Constitution like the USSR.
vtwin| 2.20.12 @ 1:24PM
What about Reagan and Bush? Reagan tripled and Bush doubled the national debt during their respective terms in office.
Von Mises Jr.| 2.20.12 @ 1:36PM
I think you should have another double scotch.
vtwin| 2.20.12 @ 1:47PM
I prefer tequila :)
Von Mises Jr.| 2.20.12 @ 2:33PM
Provide your statistics and I will take your statements seriously.
But to begin with, your facts are WRONG.
G.W. Bush, who I rarely defend had budget deficits in the $100-300B range for 7 yeaars, and only exploded it in 2008 due to TARP that put it in the $450B range. Obama probably matched Bushes 8 years of deficits in the first year.
Reagan increased receipts to the Treasury from $500B to $1T with tax cuts. Wouldn't it be nice if anyone tried that as a solution. Why wouldn't work again?
vtwin| 2.20.12 @ 3:10PM
GDP Growth by President:
Johnson 6%
Nixon 9%
Carter 11%
Reagan 7% ~ first decline in our Nation's history.
Bush I 6%
Clinton 6%
Bush II 5%
Debt Growth by President:
Johnson 2%
Nixon 7%
Carter 11%
Reagan 14% ~ from $900 billion to $2.8 trillion during Reagan.
Bush I 11%
Clinton 4%
Bush II 7%
Von Mises Jr.| 2.20.12 @ 4:07PM
Debt in 2008 was just shy of $10T and (4) years later under Obama it is $16T. Do they teach math in liberal schools?
That is a 60% increase in one term while you state Bush II increased it by 11% in two terms. That's a multiple of a dozen, that's 12 times the debt per term.
It is almost useless to talk to liberals since they cannot learn. It is a socialism block that they can't get past when stealing other people's money. You must be a blithering ignoramous!
But at least the conservatives that were taught real math will be informed!
Anthony| 2.20.12 @ 4:54PM
A good try Von, but talking to vtwin is like talking climate with Algore, or economics with Krugman.
They, like our San Fran biker boy vtwin, have been sucking on Obozo's tail pipe for so long, the CO levels in their heads have indeed induced AGW, hence the fuzzy brains.
Vtwin doesn't want to know that GDP growth under Obozo has averaged about 1.3%.
Vtwin doesn't want to acknowledge that last month alone, 1.2 M Americans left the work force.
Vtwin doesn't want to understand that under Obozo, our national debt reached 100% of GDP.
Vtwin doesn't want to face reality that the high levels of unemployment for the past 3 years have not been seen in America since the Great Depression.
Vtwin does not believe the U6 unemployment rate is between 15.5% and 19%.
Vtwin only believes in his savior, Lord Obozo.
Von Mises Jr.| 2.20.12 @ 9:28PM
Thanks Anthony. I was actually talking to intelligent guys like you through numb n@ts.
vtwin| 2.20.12 @ 3:16PM
"Only exploded it in 2008 due to TARP" No, TARP contributed but the primary reason was a sharp decline in revenues because of the recession.
JJ| 2.20.12 @ 3:23PM
Yes, the Reid, Pelosi recession.
vtwin| 2.20.12 @ 3:30PM
JJ the recession, call it what you will, resulted from a lack of regulation in the financial markets.
Von Mises Jr.| 2.20.12 @ 4:00PM
The recession was called the subprime mortgage meltdown that was primarily the work of liberal democrats from Clinton to Frank/Dodd to Schumer to Waters.
Read "Reckless Endangerment" written by 2 NYT writers (not conservatives) or either of Gasparino's books or Mort Zuckerman's columns. Can't blame this on dumb luck or sh*t happens. You own it since it is a liberal invention.
vtwin| 2.20.12 @ 5:06PM
Von, thanks I appreciate the book recommendation I'll give ti a read.
Did the book happen to any of these the sub-prime mortgage criminals?
Roland Arnall ~ Ameriquest
Angelo Mozilo ~ Countrywide
Joe Cassano ~ AIG
Ralph Cioffi ~ Bear Stearns
Jon Corzine ~ Goldman Sachs
Phil Gram ~ Chairman Senate Banking Committee
Jim Leaach ~ Chairman House Banking Committee
Alan Greenspan ~ Chairman Federal Reserve
If not let me recommend "All the Devils are Here" by Mclean and Nocera
grant1863| 2.21.12 @ 4:18PM
Think you missed a few like Chris Dodd(D) and Barney Frank (D) (Mr. roll the dice) , I think you're right on about some of the others, not so sure about Gramm.
vtwin| 2.20.12 @ 3:24PM
Why wouldn't work again? Answer: it didn't. Reaganomics marks the beginning of declining rates in GDP growth and the increasing debt we see today.
twintricyclepedals| 2.20.12 @ 4:00PM
Where does the exponential increase in federal spending by liberals fit into your analysis?
49.5% of Americans paying no federal tax?
Over 70% of federal spending on government dependence programs?
Over 91 million Americans dependent on government?
Over one million dollars each American taxpayer currently owes for all federal spending?
1ConservativeUSA| 2.20.12 @ 4:42PM
At least, with Reagan, economic growth exploded, and under Bush, the economy grew as well.
Bush, I agree, spent money on unecessary liberal ideas, as a result of Pelosi & Reid taking over the Congress in his last two years.
Both presedients, by the way, "inherited" recessions. Neither one of them cried like a little baby about it.
Under Obama, we have massive debt without the benefit of economic growth (and a lot of crying).
Look at debt % to GDP, and all of your liberal fantasies will be debunked.
vtwin| 2.20.12 @ 5:16PM
GDP Growth rate under Reagan was 7% better than Clinton or either Bush. But debt Growth rate was 14% the worst for ANY President on record.
Lived it| 2.21.12 @ 12:01AM
Reagan had to deal with interest rates as high as 21 1/2 percent. That was the "worst" recession of our time. Debt grew at unprecedented levels. We watched businesses go under all around us due to inability to pay their loans that went from normal interest rates to over 20%. That no one on the left ever mentions this little fact when talking about Reagan's debt is completely misleading.
jimH| 2.20.12 @ 1:52PM
I haven't read it but I've heard that whats written in the Soviet Constitution is not so bad. It was of course ignored as ours increasingly is. I thought we were being fitted for the South African modal.
Von Mises Jr.| 2.20.12 @ 2:27PM
It is FDR's Second Bill of Rights that says what the government can do for you, or to you; instead of a document of negative rights as to what it is prohibited to do.
Hence, free housing, food, health care, eduction (at the expense of 100% of your freedom)
vtwin| 2.20.12 @ 2:43PM
I don't have free housing, food, or healthcare and my education was paid for by my parents through property taxes. And my College sure the government helped after served in the army!
Balthazar| 2.21.12 @ 1:36AM
The US Constitution FAILS in many areas of human rights and dignity. When Santorums can deny Religious freedom as a CAMPAIGN PROMISE, Romney can quote the bible and live a lie openly, but two people in love can not.
When you are living the Sermon on the MOUNT, you can quote it as you policy. otherwise it is FRAUD to use it as a prop for votestumping.
Pecos Pete| 2.20.12 @ 8:01AM
King O and the democrats are corrupt beyond belief. Follow the money and you will find them enriching themselves, their families and their friends.
vtwin| 2.20.12 @ 1:32PM
"King O and the democrats are corrupt beyond belief." How? Please explain.
JJ| 2.20.12 @ 3:24PM
Start with ObamaCare, then go to "Fast and Furious", then look at the cozy relationship with the Unions. That is just your first course.
Balthazar| 2.21.12 @ 1:40AM
Like Bush and big Oil, The Wall Street mob and halliburton/blackwater et al?
Balthazar| 2.21.12 @ 1:39AM
Then WHY do you not have EVIDENCE? Show it! All of it... Convictable, incontrovertable, corroborated testimony and hard physical EVIDENCE.
you can't because there is none where no crime has been committed. All YOU can do is gobble the regurgitation of Fox news and RED menace blogs, shit it out, lick it up and spew it back into the ears of your minority loudmouths.
O.F. A.N. A.S.S.| 2.21.12 @ 3:25PM
Even sheep know once your intellectually 'elite' liberal democrat Markist scab snot bubble sodomizing controllers at Media Mutters will throw you to the wolves when they go down.
Ovines For
A Nation
Absent Species Sodomization
Jim Hlavac | 2.20.12 @ 8:33AM
The president and the Democrats have given new life to the expression: "You can fool some of the people some of the time, and you can fool most of the people all the time." And I'm no longer sure there's enough people who are not fooled at all, or if enough can be un-fooled in time. In my efforts to explain the deficits to people who otherwise think Obama is doing a wonderful job I merely point out that "if you earn $25,000 a year, you can't keep spending $40,000 a year." That seems to grab them better than talk of Trillions of Dollars, which, like infinite space, is beyond the comprehension of most people.
vtwin| 2.20.12 @ 1:40PM
Starting with Reagan, every Republican president has run massive deficits during every year they have held office. You sir give new life to the expression" they are fooling themselves."
Moe Blotz| 2.20.12 @ 2:13PM
vtwin: Are you flathead, knucklehead, panhead, shovelhead, or blockhead ?
Drunken Sailor| 2.20.12 @ 4:29PM
More like dickhead.
Balthazar| 2.21.12 @ 1:41AM
Compared to Moe Blo, he's the seven headed beast, with 7 completely functioning brains!!
Moe Blotz| 2.21.12 @ 4:45AM
If you are referring to the Hydra, that creature had nine heads. With seven brains no wonder vtwin is so confused, with all those conflicting thoughts.
LindaF | 2.20.12 @ 9:07AM
With entitlements, we don't have much of a choice:
1) Make serious cuts in what beneficiaries get, force re-evaluation of ALL disability claims (starting with letting private firms do some investigation, for a percentage of money saved in the first year), and stop forcing medical providers to take less than market rates - have the beneficiaries pay more. For any beneficiary taking more than 5 regular meds, have them be evaluated by those specialists that help folks reduce their dependence on meds.
Most importantly, stop being bullied by the entitlement lobby.
Balthazar| 2.21.12 @ 1:44AM
Entitlements are investments by people over a lifetime, who have EARNED their benefits. All we need to do is revoke the $112,000 ceiling and make EVERY source of income FICA taxable. in a decade, SocSec will be giving refundes and todays college gradute's grand children will have NOTHING to fear. Except the RED menace stealing their parents investments.
LMajito| 2.20.12 @ 9:10AM
Most of the citizens don't care, the politicians know this and they're out for themselves.
also, nobody talks about marching into washington to make things right by any means, just like the folks back in 1776. But these folks had the cojones to carry forward their desire to brake the financial burden the nobility had placed on them.
the nation is not near the breaking point and at this stage, there are so many hands in the cookie jar, nothing will ever get done...at least not with the same players...
so unless the nation totally collapses financially or some middle east nut finally succeeds in detonating a nuke in dc or new york, the mindless citizens will go on worrying only about their existence and ignoring the crooks they sent to dc
Oldefarte| 2.20.12 @ 9:11AM
This fiscal/economic crisis is only a continuation of the stupidity displayed by the American public on 11/4/08, and as such it is rightly termned predictable. Will they wake up to the insanity of this president and his band of socialistic domestic terrorists? The answer will come on 11/4/12. If the Republicans are not elected to replace some of these Democrat social welfare providers [at taxpayer expense], this country will lead the way to financial bankruptcy shortly thereafter. The irrationality of some bloggers here in fighting ove which candidate for the Republican nomination is more conservative or Reaganisk is completely insane, and the one sole decision criteria should be who can beat the current president and thereafter begin to restore economic stability to our government. WAKE UP AMERICA [before it's too late]!!!!!!!!!!!!!!!!
Tenn Slim| 2.20.12 @ 9:25AM
One has to consider the reasons for all these years of Obamaeconomics. IAW the Cloward Piven school of Community Organizers, swamp the Fiscal systems, adjust same to meet Equalitarian Goals/agendas, ignore the obvious economic potholes, subvert/diminsh/denigrate Private Sector goals and efforts. End Result Mud Huts for all, with a Plantation Leftist Manison on the Hill.
2013 with a 2012 Obama succes, with the current odds of 6/10 Nevada boards a likely occurrence, will see the further implementation of Cloward's failed 1969 Thesis.
end
Semper FI
AhiaGuy| 2.20.12 @ 11:00AM
I find myself being dragged reluctantly into the realm of conspiracy theory by the glaring facts that such incompetence can't be simply that.
Even a public school student when presented with the simple math would reel at the impending consequences of this fiscal madness.
However, these brilliant, smartest-in-the-room leftists should take some heed of history, if they've ever studied its reality rather than their college faculty lounge theories. Once anarchy is loosed, all bets are off. One only needs to look at what happened with the communists in Germany after WWI or the various factions of the left when a power struggle ensued in Russia, China, Cambodia and other Socialists paradises as they attempted to tear down and start anew to build a proletariat's heaven on earth.
richard ryan| 2.20.12 @ 12:35PM
Thank goodness our military is sworn to defend the constitution. That document is supposed to preserve our rights, and they are being trampled all over the place. When things get out of hand in this country, that will be very important. Along with the fact that the majority of our REAl military leaders are conservative. Think about it
Balthazar| 2.21.12 @ 1:51AM
Let's all join hands and PRAY for a Santorum ROUT of Romney in Michigan and a Gingrich resurgence on Super Tuesday.
The ONLY way the RED menace will stand a chance is to REVOKE the women's suffrage Amendment by September 1st. The can only do that if they get 38 states to ratify an amendment that reserves the right to vote and hold office to pure breed White Males with less than 5" erections, over the age of 60 and missing at least 2 of the 7 ADL's of semi advanced Alzheimer's.
Issa the Asshole is REALLY holding that automatic shotgun at the Republican party's testicles by DENYING women representation AND testimony @ his Gestopo RED menace hearings. Let's help steady his hand so he blows them both off with one shot!
Mark MacInnis| 2.20.12 @ 10:11AM
Those who failed to learn the lesson of GM are doomed to repeat it. Right up until the last minute, GM brass kept reassuring the troops: "All is well! Remain calm! Confidence is high!" And then, the doomsday clock strikes midnight.
"We have a plan.", Obamites tell us. Except, they don't.
What does a bankrupt sheep farmed do with his flock?
squalis| 2.20.12 @ 11:24AM
Actually, they admitted they don't have a plan.
Balthazar| 2.21.12 @ 1:57AM
That was EXACTLY what BUSH said, What McCain quoted. He could only say that by BORROWING $$152 BILLION dollars, most of which was spent, not on products or services, but on credit debt and mortgages. Meaning the plan was designed to be a payday for the banks that Bush OWED favors to.
And the GM bailout worked, just like both Chrysler bailouts worked, at 0 net cost to the Tax Payers.
Anthony| 2.20.12 @ 10:29AM
Please stop referring to media and academic whores such as Krugman, as well as the Ds in congress as liberals.
They are no such thing. They are hardcore leftists. Classic liberalism is a total anathema to these people.
Balthazar| 2.21.12 @ 1:58AM
Considering the Conservative SCOURGE of the last 3 decades, America is SAYING "GO LEFT YOUNG MAN!"
Kingofthenet| 2.20.12 @ 12:19PM
Well I dare say the Treasury Secretary knows a 'bit' more about the Economic Situation than AS readers. Tim made the point that the deficit is going to come from the MILLIONS of Baby Boomers retiring and starting to pull their money from the markets, and collecting expensive Govt. bennies. What would YOU do in that situation?
LMajito| 2.20.12 @ 12:30PM
Yo Kingofthenet (could we call you al?) these boomers have contributed (willingl or unwillingly) and thus now is their time to collect...so you're refer to them as wards of the state, freeloaders and such? expensive govt bennies? wow...so the monthly ssn payment is now an 'expensive bennie'?
get a clue pal, if i pay into a fund for 40 years and then i want to collect what was agreed for that's not a bennie...
quit trying to make the coming baby boomer retirement as some wave of free loaders...
go ask your messiah BHO, his minnions in congress or his mouthpieces where did the dough for this cookie went to?
Kingofthenet| 2.20.12 @ 1:02PM
You are going to be a LEECH a Freeloader, I know you think you PAID for all your going to get, you didn't. IF the Govt. just gave you back what you put in your Social Security and Medicare would last 10 years TOPS, after that your on welfare...
AhiaGuy| 2.20.12 @ 1:34PM
IF the govt had allowed us to have our own retirement fund like Chile does, we wouldn't be drawing anything from the government and we'd have a better rate of return to boot. Plus, we'd be able to pass the unused portion to our heirs, rather than have it seized by an ever-greedier government.
Drunken Sailor| 2.20.12 @ 4:10PM
But if they had let us invest it we would be much better off than letting the goverment hold it for us. So why should I trust them to spend money wisely?
Balthazar| 2.21.12 @ 2:01AM
Thank you Kotn for PROVING that SocialSecurity is an INVESTMENT, and should be taxed as 'carried interest' and Capital Gains, not income.
Wanna change the tax structure for the better, Give our military, seniors and disabled a 50% tax break and just reinstate the pre Reagan tax rates across the board. America will be in the black within a decade.
AhiaGuy| 2.20.12 @ 1:37PM
"Well I dare say the Treasury Secretary knows a 'bit' more about the Economic Situation than AS readers."
Not sure about that, King. I know better than to cheat on my taxes.
Of course, I didn't get a six-figure government salary by being honest, so maybe I could learn something from TimmyG.
John P Koral| 2.20.12 @ 12:46PM
Thank you for your column. Is it a democratic congress or a democrat congress? Are they democratic senators or democrat senators? Is it democratics vs republicans or, well, am I wrong. If so then I am sorry. If I am correct, please spread the word because everybody writes this way, at least it seems like it and its driving me mad.
Phew!
Thank you.
Best regards.
vtwin| 2.20.12 @ 1:14PM
"Adding insult to injury, taxes are also going up substantially." Bullshit, taxes need to go up and sustainably.
Bush inherited an annual surplus from Clinton and handed Obama an projected short fall in excess of $1 trillion annually. Half the result of the Bush tax cuts the other half the result of the Bush recession.
Drunken Sailor| 2.20.12 @ 4:10PM
If half is from the Bush tax cuts, why is your messiah continuing them?
1ConservativeUSA| 2.20.12 @ 4:13PM
The precious thing thing is, Mr. Marx, when "taxes go up", the rich use strategies to avoid paying more.
Who gets hurt?
Your "tax the rich" argument is false.
Signed,
Tax Accountant who knows.
vtwin| 2.20.12 @ 5:50PM
Romney paid only 13% in income taxes on $24 million. I paid more than 13% in Social Security and Medicare taxes even before income taxes. It is time to tax investment income at the same rate as earned income.
Balthazar| 2.21.12 @ 2:04AM
Don't forget the multi trillion in WAR COSTS. That is not just the weapons, but the lifetime medical care and disability costs as well. Bush cost us $5 Trillion before this is all said and done and the last Afghanistan vet is laid to rest.
AhiaGuy| 2.20.12 @ 1:40PM
"Bush inherited an annual surplus from Clinton..."
Clinton was dragged into that surplus by Newt, Kasich, Gramm & the other Republicans of the 104th Congress. Just sayin'...
vtwin| 2.20.12 @ 2:27PM
The Republican controlled congress under Clinton was responsible for the surplus? OK, but the Democrats didn't take control of congress until 2006 so how do you explain the budget shortfall in 2004 (over $400 billion) two year earlier?
JJ| 2.20.12 @ 3:26PM
The surplus was a result of the cold war ending under Reagan. Since the dems took control of congress in 2006, you can blame the market crash and recession on the Dems.
twintricyclepedals| 2.20.12 @ 5:44PM
Where does the truth and reality,
that the first 6 of the 8 Bush years under a republican majority house of representatives accounted for 47.2% of the total 8 year Bush deficits,
while the last 2 of the 8 Bush years under a democrat majority house of representatives accounted for 52.8% of the total 8 year Bush deficits,
or that the exponential increase in deficits that has occurred in just 3 Obama years has doubled the deficits of all 8 Bush years - even though more than half the Bush deficits occurred in just those last 2 house democrat majority years,
fit into your analysis?
vtwin| 2.20.12 @ 6:22PM
So, because the House was controlled by Republicans for the last two years of Obama first term the debt accumulated during this period is not Obama's but rather the House Republicans fault?
twintricyclepedals| 2.20.12 @ 7:22PM
So, by directly avoiding the specific questions put to you, you have indirectly admitted spending is the problem and you have indirectly admitted democrat spending is exponentially worse than republican spending, republican spending that no commentators here ever support?
You forfeit any credibility and integrity you might have by ignoring democrat spending, and by implying since republican spending is fractionally as bad as democrat spending, and also because Reagan and Bush did not fight democrat spending as much as they should have fought it even though their respective congresses were democrat majorities, everyone might as well stick with this current bunch, this bunch that is outspending - by a factor of ten - anything ever seen previously in the history of this country.
Balthazar| 2.21.12 @ 2:07AM
Let's not forget to mention the extreme prosperity of business AFTER Clinton rescued us from BushUno's recession and Bank collapse ( the S&L thing his SON was masterminding). And just imagine the prosperity if the RED menace didn't waste two full years of legislative opportunity chasing down a cum stain.
O.F. A.N. A.S.S.| 2.21.12 @ 3:31PM
Even sheep know what ultimately happens to intellectually 'elite' liberal democrat Markist scab snot bubble sodomizers, whether they mutter in the media or not, whether they heed the call to them daily or not.
Ovines For
A Nation
Absent Species Sodomization
cicero| 2.20.12 @ 1:45PM
vtwin: check your numbers. Bush's deficits never approachedd $1 trillion, and in the last 4 years were under $200 billion. The explosion of debt during the O years are another matter. Without a budget, we still have no idea where the money is going. Just like we have no idea where the auto bailouts, the bank bailouts, etc went. The country is being bandrupted by our elected officials, and their appointed pals, and Congress sits by and lets it happen. Hemingway realized what he did with his fortune, and ... Is this country going in that direction. Or do we wait for the strong man on the white horse to come riding up, and tell us that if wee just trn it all over to him, he will save us from the boogey man?
vtwin| 2.20.12 @ 2:02PM
Bush's last budget $450 Billion (2008) OMB projected (2009) $1.4 trillion BEFORE Obama took office.
http://www.cato-at-liberty.org.....9-deficit/
JJ| 2.20.12 @ 3:27PM
See Franks, Dodds, Pelosi and Reid and you will see the culprits behind 2008.
vtwin| 2.20.12 @ 2:09PM
The bank bailouts were Bush's, the Auto bailouts were Obama's but "GM had record profits" this year.
JJ| 2.20.12 @ 3:28PM
Obama voted for them.
Drunken Sailor| 2.20.12 @ 4:12PM
Well yeah, if someone else pays your bills that kind of bumps up your profit margin doesn't it?
Pecos Pete| 2.20.12 @ 8:19PM
Did GM pay any federal taxes on their record profits? Answer: No. But if they had paid the corporate tax rate their profit would have been about 60% less which would NOT have been a record.
vtwin: You need to go back to school, relearn a bit of math, read something besides leftist talking notes and then come back to play with the adults.
Pecos Pete| 2.20.12 @ 8:21PM
OOPS, me and the keyboard ain't communicating this evening. GM's profit would have been 40% less. Oh my, now vitwin will want me to go back to school.
Balthazar| 2.21.12 @ 2:18AM
How's Chysler doing BTW?
vtwin| 2.20.12 @ 2:12PM
"The country is being bankrupted by our elected officials..." I agree, but don't blame Obama he inherited this mess.
JJ| 2.20.12 @ 3:31PM
BS. He helped cause the mess. The dems took over congress in 2006 and refused to allow drilling of more oil leading to the gas crises. They also forced banks into accepting high risk mortgages causing the mortgage crises. Obama as a senator was part of the problem.
As president all he has done is raise debt through the roof and orchestrate further erosion of freedoms and liberties. And all he has for a defense, is "its Bush's fault" - and you buy this crap and spread it as BS.
vtwin| 2.20.12 @ 3:54PM
...and this is your brain on rush limbaugh.
1ConservativeUSA| 2.20.12 @ 4:09PM
Just wait until the crush of debt and the threat of high taxes bring any feeble economic growth we are experiencing today, to a screeching halt.
Greece is the word.
Slacker| 2.20.12 @ 6:38PM
I'm left thinking: What’s the point?
Complaining about Obama’s his economic plan seems to be a worthless exercise. Fiscal disaster is certain. Do the particulars matter?
It has been clear for some time that we lack the cultural will to fix anything. We have become so risk averse that we are incapable of solving any problem. The coming entitlement shit storm is inevitable.
vtwin| 2.20.12 @ 6:47PM
The Republicans blame the Democrats for playing with matches and the Democrats blame the Republican for turning off the water all while the house is burning.
POST American| 2.20.12 @ 10:56PM
--------------------BOTTOM LINE-----------------------
Hemingway fatally done in, as an artist,
by his secular alcoholic's 'world vision'.
That said, he had passages that soared
unlike anyone else in literature. He made
things come alive and managed, maybe
in spite of himself, to cross thresholds
of a kind.
Sift him as you read him.
There are wonders amid the standard
demoralizations of 20th century modernism.
---------Even better, check out the novels
of B. Traven. Esp. the Mexican novels.
Manly vision beyond viagra-----------------
Beyond this life. . .
nitpicker| 2.27.12 @ 10:56PM
To quote the Executive Order which created the Simpson-Bowles commission, "The issuance of a final report of the Commission shall require the approval of not less than 14 of the 18 members of the Commission." It did not receive those votes, so there was no report Harry Reid to ignore. In fact, Paul Ryan led his three Republican Housemates in voting against the commission's report, but now rails against Obama and Dems (as this author does) for ignoring a commission report that never existed. Please attempt to be serious.