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Sharing the blame for the financial crisis

by Ed Coet

Created on: September 10, 2010

Can you handle the truth? I’m just aghast at how the progressive-liberal democrats and their minions in the mainstream media keep alleging that President Obama inherited a huge deficit from Bush. Granted, President Bush swayed from his fiscally conservative roots. That is why conservatives left him in droves and he, George W. Bush, set Barack Obama up for a victory as a result. It was as much a Bush protest vote as it was a pro-Obama vote. Americans wanted to vote the total opposite of President Bush to demonstrate their outrage with him. Obama was as far left as you could get. Hence, he won.



This notwithstanding, it is only a glimpse of a temporary and partial truth. Here is a short civics lesson. Budgets may be proposed by the White House but they do not come from the White House. Budgets come from Congress. The party that controlled Congress since January 2007 is the Democrat Party. They controlled the budget process for FY 2008 and FY 2009, as well as FY 2010 and FY 2011. In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.

For FY 2009 though, Nancy Pelosi and Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus-spending bill to complete the FY 2009 budgets. And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete FY 2009. Let's remember what the deficits looked like during that period:

If the Democrats inherited any deficit, it was the FY2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets. If Obama inherited anything, he inherited this financial mess from himself. It is long past time for Presidnet Obama to accept personal responsibility for the financial clamity he has put our country in.

In a nutshell, what President Obama is saying is, "I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th."  President Obama's perpetual blaming of President Bush is not only dishonest, it is an abominable lie. We can't trust President Obama because he is so completely lacking in integrity

There is no way that this truth will be widely publicized by the mainstream media and that’s a crying shame. Truth matters.

Learn more about this author, Ed Coet.
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