The US government has run deficit budgets for 31 out of the last 35 years. That is ridiculous. Check out this graphic showing the budget deficit from 1961 through 2005. So Ronald Reagan, hailed as the greatest Republican president in recent history, ran up the debt. Both Bush’s ran up the debt. Nixon, Ford and Carter ran up the debt. The only president to run a surplus budget since JFK was Bill Clinton. (Here’s another graphic showing the same thing.)
WHAT THE FUCK!
George W. Bush grew the budget by 1 trillion dollars during his 2 terms. He inherited a surplus and will be handing Obama a deficit. The war does not come close to explaining this.
I’m a self-proclaimed raging liberal and I think it verges on criminal that we allow these administrations to spend future dollars. While I understand that there are smart and legitimate reasons to occasionally run a deficit, it has become business as usual in Washington because we are governed by a bunch of pussies who preside over an electorate that is too stupid to realize that there is no such thing as a free lunch.
We have to raise taxes AND cut spending. We should balance the budget every single year. I just heard that by 2040 every dollar the US government takes in will go to social security, medicare and servicing the national debt. Does that sound sustainable to you?
I know most Republicans have already distanced themselves from Bush, but if you needed more proof of the utter disfunction of the Republican party, here it is — they suck at managing the budget and yet they claim they are fiscal conservatives. Bull. Shit.
Let’s see if Obama can get us out of this mess like Clinton got us out of Ford/Reagan/Bush’s mess.