Thursday, August 25, 2011

"Bush Did It!" —Wearing a Little Thin is it?

SEE HERE Frankly the whole liberal progressive wing of the political spectrum is long on name calling and short on the truth. Usually there is a germ of some kind of truth so that they can plausibly hang their hat on the exaggeration that they are sure to offer thereafter. In the case of the overpowering deficit there can be no doubt that Bush the younger spent a lot of money with some justification on two wars and an economic bailout, but Obama campaigned against this and once elected has spent money at nominally twice the rate so that he will have outspent the entire two terms of the Bush administration in the first and hopefully last term of his administration.

Whether it is lying pure and simple or hypocrisy or an admixture of the two is yours to decide. But the facts remain that the performance of the first term of the Obama administration is twice as profligate as the Bush administration and shows no particular sign of winding down. Longer term many economists are saying that we have already achieved sustainability which means the system will collapse, the only variable is exactly when and with how much of a bounce.

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