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Republicans and Bush are to blame for our huge deficit
Recently, a great deal of concern has been expressed over our deficits. Letters usually blame President Obama or the Democrats for the debt, but fail to address the underlying reason for our staggering deficits: President Bush’s and the Republican party’s tax cuts for the rich and our two wars.
We did not enter into a deficit at noon on 1/20/2009, rather we inherited it from Republican policies. They accounted for over $ 500 billion in 2009 deficits, and will account for almost $ 7 trillion from 2009-2019. Were it not for these two disastrous policies coupled with the economic downturn, we would have a manageable debt and be close to a balanced budget.
When President Clinton left office he handed a budget surplus of $127 billion to President Bush. If we had continued with his economic course, Clinton predicted we would be debt free by 2010.
The tax cuts for those making over $250,000 a year are set to expire in December 2010. These cuts affect a few people. If we eliminate them, we
can pay down our huge budget deficit. If we don’t, we shouldn’t complain about the debt. This is our choice, if we want peace and prosperity.
Comment
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Comment by Sandy Lusk on August 7, 2010 at 7:47pm -
Thank you, Stephen, it seems I touched a nerve with the Repubs with this letter. Their responses to my letter at the Times Free Press and Chattanoogan were pretty caustic, but that is to be expected. Some responses said Clinton left us in debt??? Obvious lie, we had a budget surplus of $127 billion and this is well documented. Others said Dems controlled Congress for the past 7 years. That's really news to me, and all of us, since it was 2007 when that happened. Let's see 2010 -2007 = 3 years. So they aren't good with math, history or facts. Well, thats the Republicans for you.
Some responses conveniently forgot Bush did not put the cost of the war on the books until Obama's first budget came around, so they blame Obama for Bush's debt. Grrr... we need to stop this revisionist stuff, now.
I could go on and on, but won't, thanks for reading and commenting.
Peace.
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Comment by Stephen A. Downs, Sr. on August 7, 2010 at 6:35pm -
I meant 127 billion
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Comment by Stephen A. Downs, Sr. on August 7, 2010 at 6:34pm
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"Way to tell them Sandy, Clinton was awesome and he did have us Dems, as well as the nation on the right track; It would have been more awesome if that 127 billioin would have went to the Dems.!"
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