Who Owns the Deficit
So we hear the republican chanting over and over how the sky is falling if we don’t balance the budget, even if it means we have to take food out of the mouths of our elderly and sick and weak and poor. The world will end. Why all the noise?
The Republicans voted to raise the debt ceiling 18 times during Reagan’s administration. Got that? 18 times. During that time Reagan increased our nation’s deficit by three trillion dollars, more than all the previous presidents combined.
Where did all that money go? It went to tax breaks for the rich, mostly. That and to the military budget and his failed Star Wars program.
Then, along came Clinton and he balanced the budget and had a surplus that would have paid off the deficit in 10 years.
Where did all this money come from? Clinton ended “Welfare as we know it.” In other words, he stole it from the poor. He also raised taxes on the wealthy a couple percentage points.
Then, Bush added almost five trillion dollars to the deficit and the republican voted seven times to raise the debt ceiling.
Where did all that money go? Tax breaks for the rich and two illegal wars.
Then the economy crashed, as it always does when you lower taxes on the rich, and Bush pushed through another trillion dollars to the banker crooks.
Now, Obama wants to add a small fraction to the debt, less than 8%, and the Republicans are threatening to bring the entire country down unless we take more money from the poor.
Do you see any sort of pattern here? The republicans ran up almost all of the 10 trillion dollar debt and they don’t want to pay for it. They want the poor and the weak and the elderly and the sick to pay for their big party.
The republicans and the rich have been living large for the past 30 years at our expense and now they want you and me to pay for the bill.
What would you say about a political party that does this? What would you say about a party that is willing to crash our economy if they don’t get their way on everything? We’re in this mess because of the tax breaks to the rich and the republicans are saying they will destroy the country if we don’t give more tax breaks to the rich.
What party does big business own?