[quote name='Msut77']
Let's not. For something like this it would be better to go in chronological order rather than deal with the special circumstances of recent times as Jesse Ventura put it "where Obama has to clean up George W's mess".[/QUOTE]
Well, considering that we just created over 12.8 trillion in new debt, let's.
I must have missed it where it was purely the Democrats idea to create the bailout.
Let's see, who introduced the bill? Patrick Kennedy D-RI. Which party were most of the co-sponsors from?
http://www.govtrack.us/congress/bill.xpd?bill=h110-1424
Which party's presidential candidate gave a speech on how members of congress should support it? Here's his speech:
http://commons.wikimedia.org/wiki/File:Obama_senate_10_01_08.ogg
Also, which party voted overwhelmingly to pass this bailout? Well, you can see for yourself right here:
http://clerk.house.gov/evs/2008/roll101.xml
http://www.senate.gov/legislative/L...cfm.cfm?congress=110&session=2&vote=00213#top
Here's the answer to all of those questions. The Democrats.
Also, how in the hell did we end up with $12.8 trillion in spending?
http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4&refer=worldwide
As you can see the bulk of the money was spent by the Federal Reserve. Who was that created by? Some Democrats back in 1913.
Also there is a distinction between just having enormous deficit and debt and say creating it with no plan whatsoever to pay it off as a matter of policy.
I haven't seen any plan to pay off 12.8 trillion. Have you?
I am not saying Democrats are completely clean on this matter but for in many cases their biggest crime was deciding to trust W and crew. Big mistake.
And once again there is a difference between debt/deficit during a war and flat out refusing to pay for any of it. We are the only civilization ever that has cut taxes during a war.
No. Like I said in the first part of my response, there is no particular (well for you maybe, so lets just say good) reason to focus on just the very recent past and just ignore decades of history and fiscal policy.
Oh, I didn't. Didn't you read the last part of my post? About how the Democrats, at all times, or the Republicans, at many times could have filibustered bad monetary policy, or bills that created large amounts of debt. Then what about the Federal Reserve? Created by Democrats. They print the money, and we have to borrow it from them at interest. We owe the majority of our national debt to the Fed.
Now, I'm not saying all of our problems are the Democrats' fault. They are the fault of the corrupt two party system that lies to get elected. There have been a few honest people who have come out of it in the past 50 years, (John F. Kennedy was probably the last president who actually cared about the people of this country, but of course then he was assassinated.) There are some good people in Congress right now, and there have been a few politicians to actually not be corrupt, and liars in the past few years, but they are heavily outnumbered by the typical Democrats, and Republicans, who say and do anything to get elected, and then do nothing they said they were going to do.