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May 24, 2009

President Barack Obama: 'We're out of money and deep in the red - but it's not my fault'

Topics: Political News and commentaries

Bush deficit vs. Obama deficit, in pictures (HT - Instapundit)

I paraphrase in the title a bit, but not much. In a CSPAN interview Barry - ever the victim - shows he's not very interested in true accountability:

Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we've made on health care so far. This is a consequence of the crisis that we've seen and in fact our failure to make some good decisions on health care over the last several decades.

So we've got a short-term problem, which is we had to spend a lot of money to salvage our financial system, we had to deal with the auto companies, a huge recession which drains tax revenue at the same time it's putting more pressure on governments to provide unemployment insurance or make sure that food stamps are available for people who have been laid off.

As Jennifer Rubin points out at Commentary, "we're not in this fix because of any healthcare decisions he's made -- "so far," mind you. But what is remarkable is the lack of personal responsibility for our current sea of red ink."

No mention of the trillion dollar stimulus or the $3.5 trillion budget. And in the same breath in which he denies running up the deficit he mentions the car bailouts which he "had" to deal with. Actually, it wasn't necessary; it was a policy choice which now has the ailing car companies permanently affixed to the public dole.

It is hard to ignore how passive he sounds -- ever the victim of circumstances. That darn Bush left a mess on national security. And what's a guy to do with such a deficit left on his doorstep? But the facts tell a different story, as this chart illustrates. To a greater degree than any predecessor, Obama has run up the deficit -- with little to show for it.

As the chart at the top of this post (also referred to by Jennifer Rubin in her piece) illustrates, Obama's refusal for accountability for the fact that we're out of money, deep in the red, and growing worse by the day, is ludicrous and dishonest. His remedy is even more ludicrous, which is to nationalize healthcare (video).. In other words, we're out of money and what we need is to spend more money. His assertion that we will save money by doing so is nothing less than a pipe dream. No government program has ever resulted in a savings and has never failed to grow beyond estimated costs.

Related The Government Is On An Unsustainable Fiscal Path (pdf) (And Barack Obama has made it far worse)

Posted by Richard at May 24, 2009 11:59 AM

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• President Barack Obama: 'We're out of money and deep in the red - but it's not my fault' - May 24, 2009