Originally Posted by tony hipchest
it depends.... can we agree that current deficit amounts were inherited and destined to continue to grow regardless of who was electd president?
3-4 presidents down the pike will still be dealing with this mess regardless of whether obama or mccain were elected.
that is the reality of the situation we live in. being in debt is never good. but it is the american way. it is the backbone of our financial institution and is the heartbeat of capitalism.
And that depends, can you agree that the previous president inherited amounts and things which were destined to come to pass because of previous decisions... and thus, most of the actions would have to have been taken at some time?
The 2001 recession, dot.com busts, corporate fraud, 9-11, etc. etc. were all issues that were planned and/or came about for the most part from the Clinton administration.
Yet, 9-11 came about because of the reaction and politics dealing with the first Gulf War under Bush 41. The dot.com bust came about because of a supercharged economy and overly fast computer development and internet explosion that can be somewhat related to Reagan's cut in corporate taxes and the availablity of R&D money, not to mention the defense spending.
However, that defense spending came about to rebuild a depleted military under Nixon, Ford and carter, blah blah blah.
Or are we going to look at a calendar, and say everything that happened during one administration's time period is that administrations fault. Because if we do that, then I lay this WHOLE MESS at Obama's feet.