A post from the 2012 archives
Let's give CBS News a little credit. They posted some great stores about Fast & Furious a few months ago. They've been on top of that story, also known as "Obama gave 2,000 guns to Mexican cartels and nobody knows who approved the decision."
Today, they came out with a story about the Obama debt:
"The National Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency.The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush's last day in office, which coincided with President Obama's first day.The National Debt also now exceeds 100% of the nation's Gross Domestic Product, the total value of goods and services."
It is true that Pres Bush's last deficit included TARP, or the $700 billion item that was passed by Congress (Obama voted Yes) to address the banking crisis of the fall of 2008.
However, Pres BO's deficits have nothing to do with what he inherited. They are the result of spending, spending and more spending. We've spent trillions of dollars and all we have to show for it is Solyndra, a stimulus that did not stimulate as predicted and BO-Care, an open ended entitlement about to blow a hole in our finances.
We know that "jobs" will be a big issue this fall. However, we need a very serious talk about spending. We can't go on like this. At some point, unsustainable actually happens and we are Greece!
We remember this from 2008. Is Pres BO irresponsible and unpatriotic? I guess so.