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Tax and Spend..Republicans?

01 Aug

The budget problems facing our country aren’t caused by Democrats as many would like to believe. Our current situation is simply caused by the recklessness of past Republican Congresses and Republican administrations. Just under the last Republican president, George W. Bush, the national debt grew by seven trillion dollars. President Bush ballooned the debt by allowing the U.S. to be involved in two wars in Iraq and Afghanistan which added about 1.4 trillion to the debt, enacting increased spending for different national spending programs such as defense and education which increased the debt by 1.7 trillion, authorizing a Medicare drug benefit plan that wasn’t funded by new revenues of spending cuts which added 300 billion to the debt, passing the Bush era tax cuts which added over 3 trillion to the debt. The tax issue is a complex issue, but to address the current debt situation you need to get revenues into the picture. Revenues are needed because the economy depends too much of governmental programs for them to be cut in the way the current Republican party would like to de domestic programs cut. Spending programs aren’t the fundamental problem with our huge deficit the decreasing revenue because of the Bush era tax cuts are almost single handily what got us into the terrible fiscal mess we are in today. Many Republicans say that we need to address the debt like a family would address their own money problems. When a family attempts to get their “fiscal house in order” they will maybe get rid of some household items they could make money on maybe decide not to go out to eat, or maybe even cancel magazine subscriptions. I don’t know of any family that would get rid of buying food, or getting rid of paying the interest on their home. At the same time, if a family needs more money they might consider trying to find another job, or some way to increase the money that flows into their home. Families aren’t just going to decrease the amount of money they spent they will try to find ways to make more money; a second job, etc. If Republicans are using the family as their symbol for this debate start dealing with the debt like a family would. Also, the 2008 stimulus by a Republican President George W. Bush which included the Troubled Asset Relief Program (The banks bailout) added about 200 billion to the debt. All these spending and tax expenditure programs added a massive seven trillion dollar increase to theU.S.national debt. Another very little known detail of the Bush Administration was a farm bill that passed adding another 400 billion to the debt. At the same time when Republicans are saying that under Obama we had the largest increase in spending in our nations history, but let me be the first to tell you they are flat our lying. Under Obama the increases to the deficit only included the Recovery Act, (800B) the extension of the Bush era tax cut, (400B) and temporary economic programs such as the HIRE Act. (400B) Under Obama the debt has been increased by only 1.4 trillion. The Republican administration needs to understand where the debt came from, not from Obama, but their own spending spree. They wrecked the economy, they wrecked the middle class, and somebody needs to start calling out the insanity of the Republican Party. Bush increased debt by 7 trillion, Obama only 1.4; who’s the big spender?

 
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1 Comment

Posted by on August 1, 2011 in Debt

 

One response to “Tax and Spend..Republicans?

  1. Mr WordPress

    August 1, 2011 at 2:32 pm

    Hi, this is a comment.
    To delete a comment, just log in, and view the posts’ comments, there you will have the option to edit or delete them.

     

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