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Originally Posted by cmmcmm What did "W" do to put this country in such a bad state, how is doubling the national debt (in 6 months) exactly the spending that this country needs? |
W started 2 wars and spent copious amounts of money lining the pockets of his best political contributors. He authorized torture which violated several treaties on the topic. He insulted our allies. Both wars were put on a charge card so that GOP contractors could do things like charge us for driving empty trucks around Iraq and calling it "sailboat" fuel. Moreover, these wars will cost us for decades as we continue to pay disability benefits to wounded vets for the rest of their lives. That's nothing compared to the lives he took.
While spending all this money, W granted the super rich not one but two tax cuts. He enabled the top 10% of all taxpayers to take two thirds of all the wealth this country produced. All the while, he watched as manufacturers closed plants and shipped the jobs to China.
Katrina. Need I say more?
He further deregulated banks and investment firms. He encouraged lending institutions to make sorry loans with no hope of repayment. Growth in mortgages, credit card debt, houses that no one will ever live in, and, of course, the ever popular manufacture of war machines constituted the bulk of the economy under W's reign.
He also passed Medicare Part D which is nothing more than a big, fat giveaway to the drug companies.
Obama has not come close to doubling the deficit. He inherited a deficit of more than 1 trillion dollars.
The stimulus plan that Obama authorized encourages the formation of new industry. It has kept schools open, prisoners incarcerated, police and firefighters on the job and has allowed states to keep its citizens from starving. We avoided another depression.
Those manufacturing jobs are not coming back. He's been criticized for not spending enough.
In summation, W started 2 wars. The first was probably important, but, he did not think so. The 2nd. was absolutely unwarranted. (Iraq is expected to cost 6 trillion by the time it's over with) These wars are enormously expensive. All Contracts awarded by the Bush government were awarded on a cost plua 2% basis.