his-best-work-is-still-next-to.jpg

Who’s Ready for Some Trillion-Dollar Republican Deficits?

The following excerpt is from an article that originally appeared on Hit and Run Reason

MemeGeneratorFrom 2009 to 2012, the federal government of the United States ran an annual deficit north of $1 trillion. The figure was shocking—Washington didn’t get around to spending $1 trillion in a year total (in 2009 dollars) until 1975. Coming on the heels of the debt-doubling during the presidency of George W. Bush, which candidate Barack Obama in 2008 characterized as “unpatriotic,” the new recession/bailouts/stimulus deficit-spending triggered a stampede of national anxiety.

The Tea Party arose in 2009 partly in revulsion at the Bush/Obama binge. Joint Chiefs of Staff Chairman Adm. Michael Mullen famously warned CNN in 2010 that, “The most significant threat to our national security is our debt.” The president himself acknowledged the problem, predicting in a major 2011 speech that the debt “has grown so large that we could do real damage to the economy if we don’t begin a process now to get our fiscal house

Click here to Read this Entire Story on Hit and Run Reason


This post was originally published on this site
Comments are closed.