The Buck STARTED With You, Chaiman Bao
By: Bastiatarian
From Thomas Sowell:
No President of the United States can create either a budget deficit or a budget surplus. All spending bills originate in the House of Representatives and all taxes are voted into law by Congress.Democrats controlled both houses of Congress before Barack Obama became president. The deficit he inherited was created by the Congressional Democrats, including Senator Barack Obama, who did absolutely nothing to oppose the runaway spending. He was one of the biggest of the big spenders.
That's the undeniable fact that no amount of spin can change. To a significant degree, Barack Obama created the problem he inherited.
Another political fable is that the current economic downturn is due to not enough government regulation of the housing and financial markets. But it was precisely the government regulators, under pressure from politicians, who forced banks and other lending institutions to lower their standards for making mortgage loans.It's surprising that people don't understand that. One of the most ridiculous memes ever to be perpetrated is that there was not enough government regulation, or that there was any deregulation. If nothing is actually deregulated to a meaningful degree, then there was no deregulation.
The longer Barack Obama flails about, the more people are going to see through his charade. He knows that although George Bush and the Republicans during his administration were big government big spenders, they were nowhere near the drunken sailors that Barack Obama and the Democrats controlling BOTH HOUSES of Congress were (and still are). He knows that he's lying when he blames everything on George Bush. And even Democrats, who don't make a habit of being perceptive and rational, are seeing it more and more. And more and more Obama/Biden stickers are being scraped off cars. And more and more, Barack Obama is showing himself to be the bumbling, incompetent fop that I've known him to be since I first started watching him in 2004.
Barack Obama has descended so far into self-parody, that all I can do now is laugh at him. I even almost pity him.
As usual Sowell hits the bullseye.
ReplyDeleteIt's always easy to spend money when it ain't yours. Elected officials have been proving this for years and progressives (Democrats)are the most profigate at it.
Sowell is also correct in that GWB didn't use the veto pen nearlyofyen enough.
Foe he too was a big statist spender.
Is there really much difference when it comes right down to it? When it comes to fiscal insanity me thinks not.