Obama started off strong last night in his address to the nation. But, it all went down hill after “Good evening.”
The far left Keynesian immediately pounced on his predecessor for an irresponsible spending record with the usual poll-tested sound bites “tax cuts” and “unpaid wars.” Then in the very next sentence defended his historic spending spree arguing that the recession “required us to spend even more.”
You’d think there would be one reporter in America brave enough to point out that Obama’s address didn’t make any sense.
Via The White House website:
Good evening. Tonight, I want to talk about the debate we’ve been having in Washington over the national debt — a debate that directly affects the lives of all Americans.
For the last decade, we’ve spent more money than we take in. In the year 2000, the government had a budget surplus. But instead of using it to pay off our debt, the money was spent on trillions of dollars in new tax cuts, while two wars and an expensive prescription drug program were simply added to our nation’s credit card.
As a result, the deficit was on track to top $1 trillion the year I took office. To make matters worse, the recession meant that there was less money coming in, and it required us to spend even more…
Let’s take a closer look at Obama’s opening remarks.
No matter how many times he bashes Bush for his tax cuts it still won’t change reality.
During the Bush years, despite the 2000 Recession, the 9-11 attacks, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to reduce the budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007, a sixty percent drop.
In 2004 the federal budget deficit was 412 billion dollars. In 2005 it dropped to 318 billion dollars. In 2006 the deficit dipped to 248 billion dollars. And, in 2007 it fell below 200 billion to 162 billion dollars. During the Bush years the average unemployment rate was 5.2 percent, the economy saw the strongest productivity growth in four decades and there was robust GDP growth. Bush did this with tax cuts.
Then did you notice how Obama claimed in the very next sentence that the current recession forced him to spend even more? You’d think by now that he would see what a mistake that was? Not only is Obama being dishonest about the Bush economic record, he’s being dishonest about his own economic record. He just can’t take responsibility for the consequences of his pig-headed decisions. And that was just in his opening remarks!
It didn’t get any better after that.