Under the Mountain Bunker

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    If You Want Another Debt And Spending Binge, Vote GOP -- Andrew Sullivan →

    If You Want Another Debt And Spending Binge, Vote GOP, Ctd – The AP takes the hardest position on Obama and comes up with the following bottom line:All told, government spending now appears to be growing at an annual rate of roughly 3 percent over the 2010-2013 period, rather than the 0.4 percent claimed by Obama and the MarketWatch analysis. I think that’s excessively tilted against the president. But even so, lets accept it for the sake of argument. A 3 percent annualized increase in federal spending would still put Obama in first place for spending restraint since LBJ – which is staggering given the scale of the economic collapse he inherited. A quick comparison? Bush’s first term – with no global great recession – saw spending grow an annualized 7.3 percent. Reagan’s first term? 8.7 percent. And again, remember the Romney claim that started this all off: that “since President Obama assumed office three years ago, federal spending has accelerated at a pace without precedent in recent history.” — Andrew Sullivan

    • Now you could argue that Obama should have let the auto industry go fully bankrupt, allow the economy to head into deflation and depression without any fiscal stimulus to counter, cut the unemployed off at the knees – and we would be Greece today, underwater in a deepening and self-reinforcing depression. Can you imagine what Romney would have said about Obama’s record then? And yes, as Suderman notes, the real criticism should be focused on the absence of any long-term deal on entitlements, defense, taxes and spending – a deal that would do a huge amount for business confidence. But seriously: if one side simply refuses to put any serious revenue increases on the table at all, who’s really preventing that effort? There are legitimate issues to debate with respect to the future in this election. But the caricature of the last three years, the knowing lies that interweave with this false narrative, the attempt to describe a pragmatic, sane and successful president as somehow unqualified to tackle this mess – when the US economy has fared better in this period than much of the West – are deceptions, exploiting pain. I’m sick of them, and the cynicism they represent. – Andrew Sullivan
    — 1 year ago with 2 notes
    #news  #politics  #economy  #spending  #debt  #president obama  #federal spending RESTRAINT under obama 
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