Quote:
Originally Posted by 12clicks
The uneducated among us always excuse continued deficit spending on a scale never before seen because some deficit spending was done before.
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Actually, it's not being done a scale like never before... the difference between spending and earning is closer together than it has been under 'almost' every other president during bailout times.
And in case you forgot, we had 3 bailouts in the 70's, 4 in the 80's for 85+ billion just on banks, the Airlines in the 90's and 01, then 1.4 trillion to banks and lenders under Bush.
The largest spending ever is Bush, the largest deficit ratio is Reagan. Obama doesn't even come close to these guys - at that, he alone hasn't really spent that much, over what was already in place (but hidden from us)... what he can for sure be blamed for is not reducing it.