Stereotypes exist, usually due to lack of knowledge. Unfortunately, Democrats have the stereotype of spending more than Republicans. I’m not sure how this fallacy came to be because the facts chew up and spit out this stereotype.
Republican presidents over the past two decades have racked up far greater increases in the debt than Democratic presidents. Share these numbers with anyone who starts complaining about Democrats spending too much:
%Debt Increase by President: Source:Congressional Budget Office
Bush II 72%
Now let’s set the record straight regarding the current Democratic administration:
Republicans say the deficit is President Obama’s fault, because he has exploded government spending and failed to fix the economy.
Democrats counter that President Obama inherited a catastrophic economic mess, that this mess will take time to clean up so our massive deficit is therefore President Bush’s fault.
So, who’s right?
President Bush inherited a budget surplus (the first in decades). Then, hit with a recession, he took the budget into deficit. Bush chose to ignore the deteriorating financial system and cut taxes,growing the deficit to $400 billion a year.
President Obama took over during the worst recession since the Great Depression. Faced with this grave situation, he signed an $800 billion stimulus at the same time that the gross domestic product and tax collections tanked. The combination of these two factors did raise the deficit.
It’s true that President Obama has increased the size of federal government but President Bush actually increased federal spending by more than 2X as much as Obama.
Today, the deficit is decreasing thanks to Obama’s policies. According to the non-partisan Congressional Budget Office,the federal budget deficit for the just-ended 2012 fiscal year shrank by $207 billion from the prior year. The CBO also noted that the deficit’s percent of U.S. economic output has shrunk every year Obama has been in office.
Since taking office, President Obama has found solutions to repair much of the damage done by Bush’s extreme mismanagement. It was Bush’s lack of leadership that produced a massive US debt, a failing economy, collapsing banks, bankrupt businesses and a record number of mortgages in default.
With Obama’s intelligent and strong leadership, the US is making a comeback. The Obama administration has generated 31 consecutive months of positive job growth, saved 1.4 million jobs in the auto industry alone, enacted Wall Street Reforms to protect consumers and activated 18 tax cuts for small businesses.
Let’s spread the word now, before the election — Democrats are not big spenders.It’s Republicans that have spent money recklessly and pushed our country’s economy deep in the red. Fortunately, President Obama, a Democrat, is getting us back on track.
· *Health Insurance Reform that provides the largest health care tax cuts in history for middle class families & provides coverage for pre-existing conditions
· *Medicare trustees say that the savings from health reform will extend Medicare by 12 more years
· *Re-established US ethical & trustworthy reputation around the world
· *Announced Osama Bin Laden’s death
· *Nominated 2 women to serve on the Supreme Court
· *Recovery &Reinvestment Act which has already created 3.7 million jobs
· *Financial Regulatory Reform protects consumers and ends bailouts
· *Cash for Clunkers saved the auto industry & tens of thousands of jobs
· *Doubled funding for college Pell Grants
· *Cut taxes for large and small businesses & implemented incentives to create more jobs
· *Closed tax loopholes to discourage sending jobs overseas
· *Signed an $858 billion tax cut for the middle class & extended unemployment insurance
· *Set new fuel efficiency and emission standards for the auto industry to protect the environment
· *Repealed the military’s Don’t Ask Don’t Tell policy.
So the next time you find yourself defending the President,
What’s Obama done for you?
by Rose Brandsgard