There is one other factor of the Obama deficit that I must lay at the
feet of the Tea Party, (eg the extreme right wing of the Republican
Party). The Tea Party, to whom both Speaker John Boehner and Mitt
Romney have bowed, were hell bent on making President Obama a one term
President, and to that end they did everything in their power to run the
economy, and the American people, into the ground to create a political
environment in which they could easily attack President Obama's record.
Every effort of President Obama, and his Administration, to enact
legislation to reduce the deficit and improve the economy were
intentionally blocked by the extreme, right wing, Tea Party, who used
pretext after pretext to justify their inaction. When the economy is
doing poorly, tax revenues fall making it more difficult to find the
resources needed to stimulate the economy, and carry on the government's
business as usual.
Regards,
LelandJ
On 11/01/2012 10:06 AM, lelandj wrote:
A lot of the Obama Deficit was due to a couple of Bush era events:
1) The tax policies enacted during the Bush years to lower taxes,
especially on the wealthiest 2% of Americans, who really didn't need
the gift: The tax cuts to the wealthiest 2% of Americans did little,
if anything, to stimulate the economy; because, the increased demand
for good and services in this group was much smaller proportionally,
dollar for dollar, than the demand created in the remaining 98% of
working, middle class and poor Americans.
2) The housing bubble created during the Bush years, which concealed
the true state of the USA economy: When the housing bubble burst,
trillions of dollars in wealth were vaporized into thin air. This
required President Obama, and his administration, to take immediate,
drastic measures, in the form of stimulus, to prevent a collapse of
our country, and to contain the contagion effect on the rest of the
world.
Regards,
LelandJ
On 11/01/2012 09:32 AM, Michael Oke wrote:
Step away from the kool-aid Leland.
Michael Oke, II
661-349-6221
Contents of this and all messages are intended for their designated
recipient.
On Nov 1, 2012, at 7:28 AM, lelandj <[email protected]> wrote:
On 11/01/2012 03:54 AM, Pete Theisen wrote:
Hi Everybody,
Video of Obama promising to cut the Bush deficit in half in his
first term. We know what he did instead.
http://www.youtube.com/watch?&v=gsa4uLmTw0M
More content in it as well.
8 years of Bush resulted in the greatest USA economic calamity since
the Great Depression of the 1930s. 4 year of Obama has turned that
around, putting the USA on a path to steady recovery with prospects
of a booming economy right around the corner.
Regards,
LelandJ
[excessive quoting removed by server]
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