The Deficit is Not Default of Obama

Posted on Friday, July 22, 2011 by cherylmeeker

EXCLUSIVE: The Deficit Is Not Default of Obama, by: Greg Palast, Truthout | News Analysis, Thursday 21 July 2011

House Majority Leader Eric Cantor (R-Virginia) speaks to the media on Capitol Hill in Washington on July 11, 2011. (Photo: Stephen Crowley / The New York TimesCharles Dickens’ “Oliver Twist” gave debtors’ prison a bad rap. Too bad. I’d say that locking away GOP Majority Leader Eric Cantor in a penitentiary for deadbeats seems like a darn good idea.

Let’s talk about how we ended up in this pickle, bucking up against the “debt ceiling.” From 2001 to 2008, a Republican president took an annual surplus of $86 billion left for him by Bill Clinton and ran up the budget deficit to over half a trillion in a year ($642 billion in 2008). Altogether, George W. Bush blew up the national debt by over $3 TRILLION – then left the bills to Barack Obama.

For eight years, Bush spent like a drunk monkey. The world was the GOP’s Bergdorf and they had our credit card. If there was a shiny, new war on the shelf, they just had to have it: Iraq, Afghanistan, and let’s not forget the Fantasy Wars, the half a trillion dollars a year on fancy-ass weapons for a war that won’t happen. (Example: the Virginia Class submarine. (The V-class was designed to attack Soviet subs. There are no more Soviet subs, but Bush ordered three dozen [3] anyway – at $1.8 billion each.)

And tax cuts? Don’t get me started!

The Bush administration acted just like Sarah Palin when she was set loose in that Neiman Marcus in Minneapolis – grabbing whatever she could carry because Sarah could put it on someone else’s account.

The GOP’s fattened frat boys feasted – but when the waiter arrived with the bill, the belching rich kids looked around, pointed at some poor schmuck sweeping the floor, Mr. John Q. Veteran, and said, “THAT GUY will pay.”

By the way: Congressman Cantor, the guy leading the Republicans’ refusal to lift the debt ceiling, voted for the V-class sub as well as Bush’s bogus scavenger hunt for weapons of mass destruction in Iraq. But now Cantor doesn’t want to pay the bill.
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