Let’s take a stroll down memory lane, shall we?
1980: Ronald Reagan runs for president, promising a balanced budget
1981 - 1989: With support from congressional Republicans, Reagan runs enormous deficits, adds $2 trillion to the debt.
1993: Bill Clinton passes economic plan that lowers deficit, gets zero votes from congressional Republicans.
1998: U.S. deficit disappears for the first time in three decades. Debt clock is unplugged.
2000: George W. Bush runs for president, promising to maintain a balanced budget.
2001: CBO shows the United States is on track to pay off the entirety of its national debt within a decade.
2001 - 2009: With support from congressional Republicans, Bush runs enormous deficits, adds nearly $5 trillion to the debt.
2002: Dick Cheney declares, “Deficits don’t matter.” Congressional Republicans agree, approving tax cuts, two wars, and Medicare expansion without even trying to pay for them.
2009: Barack Obama inherits $1.3 trillion deficit from Bush; Republicans immediately condemn Obama’s fiscal irresponsibility.
2009: Congressional Democrats unveil several domestic policy initiatives — including health care reform, cap and trade, DREAM Act — which would lower the deficit. GOP opposes all of them, while continuing to push for deficit reduction.
September 2010: In Obama’s first fiscal year, the deficit shrinks by $122 billion. Republicans again condemn Obama’s fiscal irresponsibility.
October 2010: S&P endorses the nation’s AAA rating with a stable outlook, saying the United States looks to be in solid fiscal shape for the foreseeable future.
November 2010: Republicans win a U.S. House majority, citing the need for fiscal responsibility.
December 2010: Congressional Republicans demand extension of Bush tax cuts, relying entirely on deficit financing. GOP continues to accuse Obama of fiscal irresponsibility.
March 2011: Congressional Republicans declare intention to hold full faith and credit of the United States hostage — a move without precedent in American history — until massive debt-reduction plan is approved.
July 2011: Obama offers Republicans a $4 trillion debt-reduction deal. GOP refuses, pushes debt-ceiling standoff until the last possible day, rattling international markets.
August 2011: S&P downgrades U.S. debt, citing GOP refusal to consider new revenues. Republicans rejoice and blame Obama for fiscal irresponsibility.
There have been several instances since the mid 1990s in which I genuinely believed Republican politics couldn’t possibly get more blisteringly ridiculous. I was wrong; they just keep getting worse.”
“…Right there, in the fine print of (Standard & Poor’s U.S. credit rating) downgrade release, they said that a big factor was that, quote, ‘the majority of Republicans in Congress continue to resist any measure that would raise revenues,’ unquote. And they give an example of how to fix that: quote, ‘initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high earners,’ unquote. In other words, S&P would like to see higher taxes on rich people.
Folks, whatever you think of Standard & Poor’s, when a Wall Street firm run by rich people recommend higher taxes on rich people, they might just know what they’re talking about.”
First of all, in fairness to this gentleman who raised a question, I absolutely agree that everybody needs to try to tone down the rhetoric.
…Now, in fairness, since I’ve been called a socialist who wasn’t born in this country, who is destroying America and taking away its freedoms because I passed a health care bill, I’m all for lowering the rhetoric.”
President BARACK OBAMA, confronting a Tea Party leader in Iowa, who took Obama to task for Joe Biden’s reported labeling of the right-wing faction of the Republican party as “terrorists.”
Awww, did the Tea Party’s “Obama is a Muslim, Obama go back to Kenya, Obama isn’t American, Obama is a socialist, Obama’s policies are like Hitler’s, etc. etc.” feelings get hurt?
But we really should tone down the rhetoric. Even against the dickheads in the Tea Party!
Republican strategist KARL ROVE, reacting to remarks made by GOP presidential wannabe Rick Perry, in which he called Fed chairman Ben Bernanke “treasonous” and that “we would treat him pretty ugly down in Texas.”
Bernanke was appointed to his post by Rove’s former boss, George W. Bush.
I wonder if the Tea Party will also lecture Perry on toning things down.