Wednesday, November 13, 2013

Ask Paul Ryan why our Debt has Skyrocketed during the Bush Years, and why he Doesn't want to pay anything Back.

While Scott Walker would like to blame Obama for doubling the national debt, it's important to understand why really doubled, and the long term effects of Bush economic policies.

Short Memories and a devious plan: Paul Ryan is big on reforming the tax code, and cutting taxes. But he shouldn't do either until we as a country payback much of the money we've borrowed. From all indications, Ryan wants to change the rules so he won' have to pay back our loans.

Yet Ryan's votes got us into our current hole.

Disaster Capitalism: Using that debt now to cut spending on our social safety nets, like Social Security and Medicare, may have been the plan all along. Using the crisis created by his own votes to spend, he can now demand cuts to programs used by those Ryan calls the "takers:" Retired Americans swinging carefree in the "hammocks," veterans, the disabled and children. Brutal yes, and an effective strategy.

Here are the charts you can point to, that dug us deep into a hole, now being blamed on Obama?

CBPP: The deficit for fiscal year 2009 — which began almost four months before President Obama took office — was $1.4 trillion and, at 10 percent of Gross Domestic Product (GDP), marked the largest deficit relative to the economy since the end of World War II.

That era’s tax cuts, most of which policymakers extended in this year’s American Taxpayer Relief Act, with President Obama’s support, and the wars in Iraq and Afghanistan will account for almost half of the debt that we will owe, under current policies, by 2019. By contrast, the economic recovery measures and financial rescues will account for just over 10 percent of the debt at that time.

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