Thursday, June 11, 2009


Who is to blame for the current economic mess in which we find ourselves? The Rushes of the world would point every finger they have at President Obama, Barney Frank, and the Democrats.

I would point to this recent study that shows who is responsible for what. President Obama is clearly responsible for some of the debt, and clearly is owning part of what President Bush started. Note the amount of debt attributed to tax cuts and increased spending (i.e. two wars and medicare reform, inter alia) that President Bush and his "deficits don't matter" (to the tune of $43 TRILLION) office. Not that this hasn't been foreseen - look at this chart from the GAO from 2005 (during the high point of the Republican majority in Congress and the White House) and you can see that this has been a long time coming.

Yet there are still those who will point to Barney Frank and the Democrats for this entire mess. Craziness.

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