Obama Pushes U.S. Debt Deal, Spurns Republican Plan
Lots of partisan jockeying [[and run-away spending on both sides that got us here) with elections top of mind. Yet the can or our dept cannot be 'kicked' any further down the road....
http://www.bloomberg.com/news/2011-0...ding-cuts.html
"Obama says the magnitude of cuts Republicans are proposing will be harmful and should be offset by elimination of many tax exemptions to deliver revenue for a deficit-cutting plan.
“I have not seen a credible plan -- having gone through the numbers -- that would allow you to get to $2.4 trillion without really hurting ordinary folks,” Obama said. “And the notion that we would be doing that, and not asking anything from the wealthiest among us or from closing corporate loopholes -- that doesn’t seem like a serious plan to me.” "
Dems use Reagan against GOP on debt ceiling
Obama Vs. Bush On Debt [the fix we are in now must be addressed...]
Why was this 'pending' debt ceiling not considered when president Obama was spending and spending? Sure the repubs had their turn at bat, but Obama has increased our deficit considerably and now as the election comes back up he has to damage control that before his constituents... "Our turn" politics in part is why were are here...
http://www.npr.org/2011/01/25/133211...s-bush-on-debt
The Weekly Standard: Obama Vs. Bush On Debt
From the article....
...Bush ran up an average of $410 billion in deficit spending per year, while Obama is running up an average of $1.413 trillion in deficit spending per year — or $1.003 trillion a year more than Bush.
Obama, of course, has said the economy made him do it. But the average inflation-adjusted deficits through Obama's first two fiscal years will be more than ten times higher than the average inflation-adjusted deficit during the Great Depression. Even as a percentage of the gross domestic product, the average deficits in Obama's first two fiscal years will more than three times higher the average deficit during the Great Depression. The fact that Obama's deficits have, by any standard, more than tripled those of the Great Depression, cannot convincingly be blamed on the current recession.