Blame ‘W’ for debt problems

Bruce Bartlett, former deputy budget director for Pres. George H.W. Bush and aide to President Reagan, says the Bush tax cuts have added at least $3 trillion to the debt, and other Bush policies led to an increase of $4 trillion in the debt.

When George W. Bush took office, budget projections showed a $6 trillion surplus, enough to pay off the then pending $6 trillion national debt. Instead, by the time Bush left office, the national debt had ballooned to $13 trillion. Obama, Bartlett said, has only added about $1.4 trillion to the national debt, and all of that was either already projected or related to economic recovery.

Bartlett’s warning was concise, clear and deliberate: the Republicans are refusing to take responsibility for having driven the borrowing binge that put the nation in the hole it is now in.

Had George W. Bush not slashed taxes, without any plan to pay for the revenue reductions, twice, the existing budget surplus would have paid down the debt.

Bush then added still more by entering into two multi-trillion-dollar wars, with zero funding, and a Medicare Prescription Drug Benefit, also with zero funding, then setting in motion the most extensive burst of new borrowing in U.S. history, to fund the bank bailouts.

Denial: A defense mechanism where certain information is not accessed by the conscious mind. Denial is related to repression but denial is more pronounced or intense. Denial involves some impairment of reality.

Repression: A defense mechanism, operating unconsciously, that banishes unacceptable ideas, fantasies, affects, or impulses from consciousness.

Diane Daiute

Sweet Home

Total
0
Share