Biden: GOP on deficits is like an arsonist becoming fire marshal

[babylonsister]

Biden: GOP on deficits is like an arsonist becoming fire marshal
By Bridget Johnson - 10/16/10 11:18 AM ET


Vice President Joe Biden said at a fundraiser Friday night that Republicans have "zero, zero, zero" credibility on reducing the deficit, and such talk from the GOP was "like making an arsonist the fire marshal."

Biden headlined the Milwaukee event for incumbent Rep. Steve Kagen (D-Wisc.), who's in a tight re-election race with Republican Reid Ribble, and state Sen. Julie Lassa, who's running for the seat being left open by David Obey's retirement.

According to the White House pool report, Biden, as well as the two candidates, joined the chorus of Democrats accusing the right of using outside groups and anonymous donors to propel campaigns.

“Why do you think the Chamber of Commerce will not tell us who is contributing to them? … Follow the money! Follow the money!” Biden said.

Biden said the administration has been tasked with digging the country out of a "godawful" hole created by Republicans, and lambasted the right for criticizing government spending.

more...

http://thehill.com/blogs/blog-briefing-room/news/124527-biden-gop-on-deficits-is-like-an-arsonist-becoming-fire-marshal

[Kdillard]

1. Biden speaks the truth.

[mikekohr]

2. Graphs of National Debt, last 3 Republican Presidents racked up $9.2 Trillion in Debt

THE LAST 3 REPUBLICAN PRESIDENTS HAVE ACCOUNTED FOR NEARLY 100% OF OUR INCREASE IN THE NATIONAL DEBT SINCE 1981

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Every President, from Truman to Carter, steadily paid down the staggering debt that was run up in our fight against Nazi Germany and Imperial Japan. That pattern came to a screeching halt with Reagan/Bush and Bush. Clinton’s fiscal policy was a brief respite during this orgy of deficit spending.

Clinton balanced 5 budgets, which is 5 times as many balanced budgets as the last 5 Republican presidents combined.


President Obama, like President Clinton, inherited a sea of red ink and a recession from his predecessor. He, like President Clinton, recognizes the importance of getting America back to work and then getting our fiscal house in order.


See National Debt Graph @: http://zfacts.com/p/318.html


WHY DO REPUBLICAN ECONOMIC PRINCIPLES EXPAND THE NATIONAL DEBT?
-The answer is simple mathematics. Reduced revenue + increased spending ='s increased debt-


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(click to enlarge)
http://cedarcomm.com/~stevelm1/usdebt.htm

The two biggest promises of "Trickle Down Economics" are it's greatest failings. Proponents of "Trickle Down Economics” claim that tax cuts, skewed to the rich, will create jobs and increase tax revenues. The graph above disproves the latter claim. Job creation plummets under "Trickle Down Economics (see http://bureaucountydems.blogspot.com/p/job-growth.html )and nine of the last ten recessions have occurred under Republican leadership (see http://bureaucountydems.blogspot.com/p/history-of-recessions.html ).

Two things are certain to grow when a Republican is in the White House, unemployment and the National Debt.


By contrast, "Bubble Up" economnic priciples practiced by Democratic Administrations put people to work, rev up the economy, and balance the Nation's ledger books. Every time. No exceptions.

[mikekohr]

3. Study by Dr. Stephen Bloch of Aldephi University , President Obama HAS REDUCED the yearly debt

here are numbers complied by Dr. Stephen Bloch from the Math and Computer Science Department od Adelphi University. He proves that President Obama has reduced the yearly debt as compared to Bush's last disasterous year in office. In fact, if you look at the chart, President Obama IS replicating almost exactly the path of President Clinton, the most fiscally responsible president since Harry S Truman.

from http://home.adelphi.edu/sbloch/deficits.html

Comments on Table 1:
The 2008-2009 fiscal year that spanned the Bush-Obama transition (which, for consistency, I attribute to the outgoing administration) had an unprecedented deficit of $879 billion (in 1983 dollars). 2009-2010, the first fiscal year that fell entirely into Obama's administration, was $120 billion smaller, at $758 billion (in 1983 dollars), but still the second-highest annual deficit on record. The third-highest was 2007-2008, at $472 billion in 1983 dollars, and the fourth-highest was 1942-43, at $372 billion in 1983 dollars.

click to view chart
http://home.adelphi.edu/sbloch/deficits.html

mike kohr
Bureau County Democrats
http://bureaucountydems.blogspot.com