On the campaign trail, Mitt Romney continuously hammers home the gross inaccuracy that President Obama is a reckless steward of the nation’s economy. Romney repeatedly accuses the president of “runaway spending” and of “creating a prairie fire of debt.” While one in depth study shows that spending under Obama never happened, a new study reveals that Bush-era policies are primarily responsible for our burgeoning deficit.
This past Thursday, the Center on Budget and Policy Priorities (CBPP) analysis revealed that the Bush tax cuts, the wars in Afghanistan and Iraq, and Bush’s Great Recession account for virtually the entire federal budget deficit.
In the graph on the right provided courtesy of CBPP, the flat line at the bottom of the chart accounts for the US deficit absent the above-mentioned policies. As you can see, we bear the effects of Bush-era drunken-sailor spending all the way through 2019. Why? We borrowed to pay for it all, and as our ability to pay down the principal diminished and the debt increased, so did the interest rates.
So wake up America! Pay close attention because we’re dishing more than Stew here, and it stinks like hell. While Mitt Romney rakes in the secret cash and buys the ability to shift the blame to Obama, four years of him is four more years of Bush. Romney proposes more wars, ignoring the effect of war on our families, our lives and on our national economy. We need a steward who will get us a change from Bush-era policies. Let’s get it right this time. We would all be remiss to re-elect President Obama without also giving him a clean House. Like my mom used to say – you can’t cook in a dirty kitchen.