How is Obama's spending any different than Bushes?

[sfwriter]

So I just caught this on one of the threads...

"Tell me the difference between borrowing 800 billion from china and saying it creates jobs and letting me keep some of my money and buying goods that Americans make."

How to answer?

Obama let you keep your money, Bush didn't. You do know you got a tax cut in that stimulus, right?

We were talking about the Bush Tax Cuts, to the top 5% here. Statistically, you are unlikely to have seen any of that. In that class, the money will not get spent on "goods that Americans make." We know where that money went, largely into banking, energy, housing and overseas development, the boom investments of the last decade.

That money was taken OUT of the federal budget at a time we were running surpluses and paying down debt thanks to 8 years of Democratic leadership. (That's the same as "democrat" leadership to you.)

This would be like me coming home and telling the wife, "Hey, I took a voluntary job cut at work. We'll borrow the difference on credit cards..."

After that, the Republicans expanded two wars and passed an unfunded prescription drug plan among other things. That's like the man above saying, "Honey, I bought the cold medicine we need on credit, OH I also got this really cool assault rifle!"

The compilation of the Republican (Giveaway - Borrow - Spend) behavior is an extra $5 trillion in debt with NOTHING to show for it.

Faced with an economy in the crapper and growing unemployment, the entire economy was in danger of crashing. To kickstart consumption, confidence, and investment, governments use directed stimulus in areas they think they can get some bang for the buck. Nations that have not done this, like Japan in the 1980s, suffer for it.

Obama produced a stimulus package of investment and TAX CUTS for 90% of Americans. Yes, 22% of the stimulus WAS tax cuts. It was also a one-time thing.

See it here:

http://www.washingtonpost.com/wp-dyn/content/graphic/2009/02/01/GR2009020100154.html




Some of the tax cuts carry over, but unlike the Bush behavior above, we won't continue to add this cost to the deficit and debt year after year.

That's like the man in the example above coming home and saying, "I've been furloughed at work. We may have to borrow money for food and necessities this year until we are back on our feet."

And ya know what, it worked:




So if you are going to walk in here and bring us your nonsense, back it up. If you can't, ask yourself why. Who has lied to you to the point that you have such a distant grasp on reality? Oh, that's right, that elite 5% who got the tax cuts and think the public is just stupid enough to vote Republicans back in for another round.

Buh-Bye.

[leftstreet]

1. That second graphic looks like the blade of a guillotine

Sweet

[babylonsister]

2. Rec'd with thanks. nt

[Liberal In Texas]

3. K&R

Very interesting.

[cornermouse]

4. Nice chandelier

or wind chime.

[readmoreoften]

5. This graph doesn't make any sense. These are funny numbers. 4.8 billion on defense?

That's just silly. I guess if you don't count war :shrug:

[sfwriter]

7. This is just the stimulus bill. Not the entire budget.

That is 4.8 billion in the 800 billion stimulus bill only.

[lpbk2713]

6. Bookmarked.

Thanks.


:kick: