Obamateurism of the Day

posted at 8:01 am on September 25, 2012 by Ed Morrissey

We’re never going to get Barack Obama to do math properly, but we’d like to see him figure out the difference between debt and deficit.  We’d also like to get him to recall the history involved in both.  Here’s an exchange from Sunday’s 60 Minutes interview where Obama seems mighty confused about debt, deficit, and the calendar:

KROFT: The national debt has gone up sixty percent in — in the four years that you’ve been in office.

OBAMA: Well, first — first of all, Steve, I think it’s important to understand the context here. When I came into office, I inherited the biggest deficit in our history. And over the last four years, the deficit has gone up, but ninety percent of that is as a consequence of two wars that weren’t paid for, as a consequence of tax cuts that weren’t paid for, a prescription drug plan that was not paid for, and then the worst economic crisis since the Great Depression.

Well, first of all, Kroft asked Obama about debt, not deficits.  Deficits add to debt, but they’re not the same thing.  The first budget might have been “inherited” — we’ll get back to that in a second — but the trillion-dollar-plus deficits in the next three years all belonged to Barack Obama.  Those were all his doing, and the laughable part of this claim is that if Congress had adopted his last two budgets, the problems would have been worse.  That’s why Obama’s two most recent budget proposals didn’t get a single vote in the Senate, which his own party controls.

Furthermore, Obama talks to Kroft as if he had no input into policy at all, but was simply a victim of a federal government left on a Bushian autopilot.  Obama’s party had large legislative majorities in both the House and the Senate the first two years of his term.  Obama could have done practically anything he wanted about deficits and debt during that time.  Instead, he spent his time passing ObamaCare and Dodd-Frank.

Speaking of legislative majorities, which party controlled Congress the two years previous to Obama’s election as President?  Why, it was the Democrats.  Who passed that budget that Obama “inherited”?  The Democrat-controlled House and Senate — including a Senator named Barack Obama.  And which President signed it into force with an omnibus spending bill in March 2009?  Obama did, which means he inherited the budget and its deficit from himself.

Got an Obamateurism of the Day? If you see a foul-up by Barack Obama, e-mail it to me at obamaisms@edmorrissey.com with the quote and the link to the Obamateurism. I’ll post the best Obamateurisms on a daily basis, depending on how many I receive. Include a link to your blog, and I’ll give some link love as well. And unlike Slate, I promise to end the feature when Barack Obama leaves office.

Illustrations by Chris Muir of Day by Day. Be sure to read the adventures of Sam, Zed, Damon, and Jan every day!

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blamer in chief

cmsinaz on September 25, 2012 at 8:03 AM

November can’t come soon enough. The books that will be written about this cretin after the fact will chill the marrow of even the most hardcore Obamabot I suspect. His ignorance is almost a match for his arrogance.

CitizenEgg on September 25, 2012 at 8:05 AM

Obama did, which means he inherited the budget and its deficit from himself.

Take a bow…Obama.
Wait..
The View is calling…
[ME on line two..]

Let them suffer…

Electrongod on September 25, 2012 at 8:07 AM

He’s conflating the two and confusing the matter on purpose. It’s pretty clear his campaign has decided to go all-in for the moron vote.

forest on September 25, 2012 at 8:08 AM

Amazing that someone who can’t take responsibility for anything (except the good that *others* have done) can get as far as he has.

shaloma on September 25, 2012 at 8:10 AM

just bumps in the road.

#bakedinthecake

BacaDog on September 25, 2012 at 8:11 AM

Deficit, debt whatever… Bush

antisocial on September 25, 2012 at 8:11 AM

Excellent annotated WSJ editorial to complement this:

The 10% President

The annotated Obama: How 90% of the deficit becomes somebody else’s fault.

Drained Brain on September 25, 2012 at 8:12 AM

OBAMA: Well, first — first of all, Steve, I think it’s important to understand the context here. When I came into office, I inherited the biggest deficit in our history
==================================

The MSM are going to have a cow,oh wait,I thought Mittens uttered
that!
(sarc)

canopfor on September 25, 2012 at 8:13 AM

Hopey acted stupidly!!!!

canopfor on September 25, 2012 at 8:13 AM

“To expect so little of the first half black president is the ultimate form of racism”.

Author unknown
Author 100% correct

hillsoftx on September 25, 2012 at 8:14 AM

He’s just not a very bright man. Plus, he’s a forked- tongue liar.

blamer in chief

cmsinaz on September 25, 2012 at 8:03 AM

Good to see you, cms!

Naturally Curly on September 25, 2012 at 8:14 AM

Obama could have done practically anything he wanted about deficits and debt during that time.

He did do anything and everything he wanted to increase both: Cash for Clunkers; Obamacare; Stimulus; Porkulus; Son of Stimulus …

VibrioCocci on September 25, 2012 at 8:14 AM

Tax cuts that weren’t paid for? What does that even mean?

LASue on September 25, 2012 at 8:16 AM

Hopey acted stupidly!!!!

canopfor on September 25, 2012 at 8:13 AM

Improv Night.

He is just Class Act

Electrongod on September 25, 2012 at 8:16 AM

Maybes another Bipartisan Group needs to study this further!
(sarc)

canopfor on September 25, 2012 at 8:16 AM

Speaking of legislative majorities, which party controlled Congress the two years previous to Obama’s election as President? Why, it was the Democrats. Who passed that budget that Obama “inherited”? The Democrat-controlled House and Senate — including a Senator named Barack Obama.

Come on, Ed, you can’t blame our benevolent god-king for this. He was too busy campaigning since 2007 to be truly involved in any of the budget debates.

crazy_legs on September 25, 2012 at 8:17 AM

“To expect so little of the first half black president is the ultimate form of racism”.

Author unknown
Author 100% correct

hillsoftx on September 25, 2012 at 8:14 AM

“But that crease in his pants”…. – David Brooks

Electrongod on September 25, 2012 at 8:18 AM

President Whistle-all-the-time is our nation collectively hiring the inner-city kid that can’t get a break.

Lets hope America has the fortitude to “fire” him like Eastwood said.

I’m not hopeful, since Romney should be minimum 5-10 points ahead……but it is what it is.

PappyD61 on September 25, 2012 at 8:19 AM

Take a bow…Obama.
Wait..
The View is calling…
[ME on line two..]

Let them suffer…

Electrongod on September 25, 2012 at 8:07 AM

Electrongod:)
=============

The EyeCandyMan!!!!

canopfor on September 25, 2012 at 8:19 AM

Naturally Curly on September 25, 2012 at 8:14 AM

good to be back :)

cmsinaz on September 25, 2012 at 8:19 AM

Tax cuts that weren’t paid for? What does that even mean?

LASue on September 25, 2012 at 8:16 AM

In his eyes ALL our money rightly belongs to the government. They ” give” us a tax cut and “let” us keep our own money through their largesse. Twisted, ain’t it?

Naturally Curly on September 25, 2012 at 8:21 AM

Speaking of Bumps in the Road,Hopey is set to honour that at the UN today!
(sarc)
======

President Obama to pay tribute to Ambassador Chris Stevens during his United Nations General Assembly address – @NBCNews

2 hours ago by editor

http://www.breakingnews.com/
============================

canopfor on September 25, 2012 at 8:23 AM

canopfor on September 25, 2012 at 8:13 AM

Improv Night.

He is just Class Act

Electrongod on September 25, 2012 at 8:16 AM

Electrongod:True Dat!:)

canopfor on September 25, 2012 at 8:25 AM

It’s pretty clear his campaign has decided to go all-in for the moron vote.

forest on September 25, 2012 at 8:08 AM

I love this.

DrStock on September 25, 2012 at 8:27 AM

On CBS (a network not known for its conservatism): Obama said Libya and Egypt were a “bump on the road”. He said our high unemployment was also a “bump on the road”. He claimed Israel’s concerns about Iran’s nuclear intentions were “noise”.


IF THIS WAS THE BEST MATERIAL CBS COULD OFFER OF OBAMA, WHAT THE HELL WAS LEFT ON THE CUTTING ROOM FLOOR????

Mutnodjmet on September 25, 2012 at 8:27 AM

And which President signed it into force with an omnibus spending bill in March 2009?

Correct me if I’m wrong, but wasn’t this $900 BILLION—PASSED BY PELOSI’S HOUSE?

Rovin on September 25, 2012 at 8:28 AM

Don’t blame Obama, he’s as qualified as a replacement official is.

meci on September 25, 2012 at 8:31 AM

It’s pretty clear his campaign has decided to go all-in for the moron vote.

forest on September 25, 2012 at 8:08 AM

forest:Lol,yup,and the……

….Unicorn Coalition
…..Democrats for Eating Dogs
…..Lizard Voter Rights Group
…..Appeasment for Muslims Working Group
(sarc).

canopfor on September 25, 2012 at 8:33 AM

‘tax cuts that weren’t paid for’…this man is an idiot…

jimver on September 25, 2012 at 8:37 AM

Debt and deficit – two concepts they do not teach at community organizing school.

St Gaudens on September 25, 2012 at 8:39 AM

Correct me if I’m wrong, but wasn’t this $900 BILLION—PASSED BY PELOSI’S HOUSE?

Rovin on September 25, 2012 at 8:28 AM

Rovin:)
=======

Senate Approves $787B Stimulus Plan
Feb. 13, 2009
**************

In a major victory for President Barack Obama, the Senate approved the $787 billion economic stimulus bill late Friday night by a vote of 60-38.

The bill, which includes tax cuts, and billions in federal spending, now awaits Obama’s signature on Monday.

Three Republicans who supported the measure on earlier votes once again cast their votes for the stimulus package. And, as expected, Sen. Sherrod Brown, D-Ohio, provided the necessary 60th vote for passage. He cast his vote at 10:46 p.m. after the Senate held the vote open for several hours while he flew back from his home state.

Voting in the Senate started at 5:30 p.m., but Brown was attending his mother’s wake at the time and could not secure a commercial flight back to Washington. Eager to ensure the bill’s passage, the White House stepped in and arranged for Brown’s flight back.

Brown now will return to Ohio on an Air Force plane for his mother’s funeral Saturday.

Only 98 senators voted because there is no second senator from Minnesota yet seated, and Sen. Ted Kennedy, D-Mass., who has brain cancer but came to the Capitol earlier in the week to vote on procedural motions, did not vote.(More…..)

http://abcnews.go.com/Politics/Business/story?id=6870873&page=1#.UGGlE67Z2Hg
====================

$787 BILLION STIMULUS: Voting 60 for and 38 against, the Senate on Feb. 13, 2009, sent President Obama the conference report on a $787 billion economic stimulus bill (HR 1) designed to create or save at least 3.5 million jobs by fiscal 2011. Tax cuts accounted for 36 percent of the sum, with the remainder consisting of direct spending such as $120 billion for public works construction and $170 billion to help states pay rising Medicaid costs and preserve their services and jobs. The bill drew support from 246 of the 253 Democrats who voted and none of the 183 Republicans who voted.

In each of 2009 and 2010, the stimulus provided tax credits of $400 for individuals earning up to $70,000 and $800 for families earning up to $140,000, with the funds delivered to most recipients in reduced payroll withholding. The bill also provided $250 onetime payments to Social Security recipients, veterans who qualify for disability payments, and other seniors and disabled persons. The bill contained no earmarks and required stimulus transactions to be made transparent to the public on a government website.

A yes vote was to give final congressional approval to the stimulus.

http://www.rollcallvotes.com/cgi-bin/WebEVIC_2009f.pl?+SENATE+64+
=================================================================

canopfor on September 25, 2012 at 8:42 AM

Spot on Ed.

Two unfunded wars? Whose total cost over 10 years is approximately the same as one unfunded Obama stimulus?

gwelf on September 25, 2012 at 8:45 AM

‘tax cuts that weren’t paid for’…this man is an idiot…

jimver on September 25, 2012 at 8:37 AM

What? You think that money is yours? It’s the governments – they just let you keep some of it. And as you know government spending and reach must ever increase until we solve all of societies problems.

/libtard

But seriously, government revenue went UP after the Bush tax cuts.

gwelf on September 25, 2012 at 8:47 AM

Debt…deficit… It doesn’t matter. It can all be solved with other rich people’s money.

Yoop on September 25, 2012 at 8:50 AM

Debt/Defifcit/ ME/ UE/ Jobs…..

One simple comment defines the Obama Presidency (and legacy): “I’ve been told I’m just eye candy here”

socalcon on September 25, 2012 at 8:56 AM

IF THIS WAS THE BEST MATERIAL CBS COULD OFFER OF OBAMA, WHAT THE HELL WAS LEFT ON THE CUTTING ROOM FLOOR????

Mutnodjmet on September 25, 2012 at 8:27 AM

Univision: Doing the job the American Media just won’t do

AZfederalist on September 25, 2012 at 9:09 AM

******** Alert ***************

Live

Video: Romney delivers remarks at Clinton Global Initiative

http://www.breakingnews.com/

canopfor on September 25, 2012 at 9:09 AM

canopfor on September 25, 2012 at 9:23 AM

Can’t figure out which is more pathetic … continuing to advance the meme of “wars and tax cuts” or the, er, people that continue to fall for this crap, the latter being somewhere in the neighborhood of 47%. Ugh!

mel23059 on September 25, 2012 at 9:26 AM

The empty chair didn’t know the difference before, either, in an earlier interview. No one in his regime must know the difference or they would have schooled him on it. What a bunch of incompetent liars we have running the country. They use that ‘not paid for’ line as well as ‘investment’ instead of spending. It’s all part of the lib lingo.

Kissmygrits on September 25, 2012 at 9:28 AM

It’s a three-letter word, Mr. President: B.U.D.G.E.T.

cane_loader on September 25, 2012 at 9:29 AM

‘tax cuts that weren’t paid for’…this man is an idiot…

jimver on September 25, 2012 at 8:37 AM

…but doesn’t it make you ‘face palm’ WHILE you are laughing?…I keep thinking HARVARD…the JugEarred dope and HARVARD!

KOOLAID2 on September 25, 2012 at 9:35 AM

*****Alert **************

TRANSCRIPT:

TRANSCRIPT: Mitt Romney Delivers Remarks to the Clinton Global Initiative

9:27 am ET September 25, 2012
*******************************

http://foxnewsinsider.com/2012/09/25/transcript-mitt-romney-delivers-remarks-to-the-clinton-global-initiative/

canopfor on September 25, 2012 at 9:40 AM

http://foxnewsinsider.com/2012/09/25/transcript-mitt-romney-delivers-remarks-to-the-clinton-global-initiative/

canopfor on September 25, 2012 at 9:44 AM

Like timelines and arithmetic, deficits be racist!

jukin3 on September 25, 2012 at 9:58 AM

Obama did, which means he inherited the budget and its deficit from himself.

it speaks for itself, comment not required.

ted c on September 25, 2012 at 10:00 AM

Speaking of legislative majorities, which party controlled Congress the two years previous to Obama’s election as President? Why, it was the Democrats. Who passed that budget that Obama “inherited”? The Democrat-controlled House and Senate — including a Senator named Barack Obama. And which President signed it into force with an omnibus spending bill in March 2009? Obama did, which means he inherited the budget and its deficit from himself.

I wish more people would bring this up when some lying Democrat talks about the inherited deficit from Bush. Obama and his party own the last 6 years and when you compare unemployment, gas, deficit, etc… from six years ago the numbers are staggering!

Ditkaca on September 25, 2012 at 10:01 AM

OT/ This is interesting. It’s the Amazon ‘heat map’ showing what its customers are ordering.

Too bad it isn’t the electoral map – yet!

http://hillbuzz.org/wp-content/uploads/2012/09/Screen-Shot-2012-09-25-at-3.10.12-AM.png?cda6c1

Cody1991 on September 25, 2012 at 10:05 AM

OBAMA: When I came into office, I inherited the biggest deficit in our history. And over the last four years, the deficit has gone up, but ninety percent of that is as a consequence of two wars that weren’t paid for, as a consequence of tax cuts that weren’t paid for, a prescription drug plan that was not paid for, and then the worst economic crisis since the Great Depression.

Obama came into office in Washington, D.C. as a U.S. Senator on January 3, 2005.

Obama became part of the majority party in Washington, D.C. when the Democrats took control of the House and Senate on January 3, 2007.

Obama and his fellow Democrats inherited a GOOD economy from the Republicans on January 3, 2007. And while revenues had gone down in FY 2001, down again in FY 2002, and down again in FY 2003, as a result of the Dot Com bust, 9/11/2001 Islamic Jihadist terrorist attacks, and two wars, the 2003 Bush Tax Cuts turned both employment and revenues around, such that by FY 2007, revenues were up an amazing 44% over FY 2003 revenues!

For employment numbers, use the Employment-population ratio: http://data.bls.gov/timeseries/LNS12300000
For Revenue numbers, use: http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z1.xls

Let’s look at the Employment-population ratio in the last month of each Fiscal Year (September) from 2000 onward:

Year Employment-population ratio in September
2000 64.2
2001 63.5
2002 63.0
2003 62.0
2004 62.3
2005 62.8
2006 63.1
2007 62.9
2008 61.9
2009 58.7
2010 58.5
2011 58.4
2012 58.3 (August 2012)

And let’s look at Receipts (Revenues) from 2000 onward:

Table 1.1—SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (–): 1789–2017

Year Total Receipts (in millions of dollars)
2000 2,025,191
2001 1,991,082
2002 1,853,136
2003 1,782,314
2004 1,880,114
2005 2,153,611
2006 2,406,869
2007 2,567,985
2008 2,523,991
2009 2,104,989
2010 2,162,724
2011 2,303,466
2012 2,468,599 (estimate)

Starting with Fiscal Year 2000, note how both employment and revenues went DOWN in FY 2001, DOWN again in FY 2002, and DOWN again in FY 2003. That’s the effect of the Dot Com bust and the 9/11 terrorist attacks.

But the Bush Tax Cuts turned the economy around. Note how both employment and revenues went UP in FY 2004, UP again in FY 2005, UP again in FY 2006, and while employment dropped slightly in 2007, revenues were UP again that year.

The Bush Tax Cuts improved employment and improved revenues… Revenues in FY 2007 were 44% larger than FY 2003 revenues!

It wasn’t until the Democrats took majority control of the House and Senate, in January 2007, that the economy really started to tank. The Democrats have been in majority control (holding 2+ out of 3 of the House, Senate and Presidency) for 5.5 years, and they spent the first half of that driving the economy in the ditch and the second half of that leaving the economy in the ditch.

If the Bush Tax Cuts are allowed to expire, and tax rates go up, both jobs and revenue will be lost. We will have lower employment (higher unemployment) and lower revenues.

To allow the Bush Tax Cuts to expire would be irresponsible.

And Obama cannot honestly claim that annual deficits went up “as a consequence of tax cuts that weren’t paid for”, when the truth is that revenues went UP significantly (44% in just 4 years) after the passage of the 2003 Bush Tax Cuts.

=============================================

Again according to http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z1.xls,

The worst deficit of the R-R-R House-Senate-Presidency was FY 2004, when
Total Receipts were 1.88 Trillion,
Total Outlays were 2.29 Trillion,
and Total Deficit was 0.41 Trillion
——————————————————

The second part of the Bush Tax Cuts were signed in 2003, and Revenues went UP, not down, but spending under the D-D-D House-Senate-Presidency skyrocketed and by FY 2009,
Total Receipts were 2.10 Trillion,
Total Outlays were 3.51 Trillion,
and Total Deficit was 1.41 Trillion
——————————————————

In FY 2009, the Democrat majority produced the worst deficit in the history of this nation … more than 3 times the size (nearly 3.5 times the size) of the worst deficit of the Republican-majority years, FY 2004.

And while the Democrats want to blame deficits on the Bush Tax Cuts, the Bush Tax Cuts INCREASED revenue, and the FY 2009 deficit wasn’t the result of lower revenues (which even though lower than FY 2007 were still 12% larger than the FY 2004 revenues 5 years earlier).

The FY 2009 deficit was the result of spending that was 53% larger than it had been just 5 years earlier!

That outrageous explosion of deficit spending, done by the Democrat majority, led to a FY 2009 deficit that was more than triple the largest deficit of the Republican majority years!

ITguy on September 25, 2012 at 10:21 AM

Repeating just the bottom line…

The worst deficit from when Republicans controlled the House, Senate, and Presidency was FY 2004, when:
(Receipts 1.88 Trillion) – (Outlays 2.29 Trillion) = Deficit 0.41 Trillion

And the worst deficit from when Democrats controlled the House, Senate, and Presidency(*) was FY 2009, when:
(Receipts 2.10 Trillion) – (Outlays 3.51 Trillion) = Deficit 1.41 Trillion

The problem wasn’t the 2003 Bush Tax Cuts.
The problem was the FY 2009 spending, passed by the Nancy Pelosi House, Harry Reid Senate, and a majority of the spending signed by Obama in 2009 (with only a minority of the spending signed by Bush in the last three months of 2008). Things like the 2nd half of TARP were requested by Bush AT OBAMA’s SPECIFIC REQUEST. And the “stimulus” and “Cash for Clunkers” were 100% Democrat initiatives in FY 2009.

They fully intended to run up spending as high as they possibly could in FY 2009, and then BLAME THAT ALL ON BUSH and set that level of spending as their new “baseline”!

ITguy on September 25, 2012 at 10:30 AM

I inherited the biggest deficit in our history

Oh really? So where is GWB’s will? Where are the probate proceedings? Nothing? That’s right, you chose to run for president, you chose to accept the DNC nomination, you chose to accept the results of the general election, you chose to take the oath of office (twice). You didn’t inherit anything, you sad-sack loser.

Nutstuyu on September 25, 2012 at 10:32 AM

Is this amateurism, or simply the half-baked lies and misstatements of a man who expects never to be challenged on anything of substance? Kroft did not even call Obama on talking “deficit” when the question was about “debt”. As for the rest, Obama has denied responsibility (whether on his part or that of the Democrats generally) for the debt since before he was even elected. Why should we expect him to be honest about any of it now?

UnrepentantCurmudgeon on September 25, 2012 at 10:41 AM

Tax cuts that weren’t paid for? What does that even mean?

LASue on September 25, 2012 at 8:16 AM

You know, like in Obummer’s old Chicago neighborhood, where you get your 40 and just walk out without throwing down the benjamins, and the those racist cop pigs harass you just ‘cuz yo black.

Nutstuyu on September 25, 2012 at 10:43 AM

The last Republican-majority budget was FY 2007, and according to the White House Office of Management and Budget (OMB) produced a deficit of $160,701,000,000 (<$161 Billion), down 61% from the FY 2004 peak deficit of $412,727,000,000 ($1,412 Billion, i.e. > $1.412 Trillion).

From R-R-R FY 2007 deficit of < $161 Billion
To D-D-2/3D FY 2009 deficit of > $1,412 Billion

In just two years. And Dems want to blame that all on Bush.

ITguy on September 25, 2012 at 11:08 AM

If it’s good – I did it.

If it’s bad – It’s someone elses fault.

The six-year-old in chief.

Tim_CA on September 25, 2012 at 11:24 AM

Oh really? So where is GWB’s will? Where are the probate proceedings? Nothing? That’s right, you chose to run for president, you chose to accept the DNC nomination, you chose to accept the results of the general election, you chose to take the oath of office (twice). You didn’t inherit anything, you sad-sack loser.

Nutstuyu on September 25, 2012 at 10:32 AM

THIS.

You ASKED for the job, you GOT the job. THIS IS THE JOB.

Now STFU and DO IT!!!

Maddie on September 25, 2012 at 11:48 AM

Profit and earnings ratio
debt/deficit

Someone will explain what he meant on the Sunday talking heads.

dragondrop on September 25, 2012 at 12:05 PM

It’s astonishing that at this point in his term, he would be unclear on the difference between the debt and the deficit.

He has to be deliberately confusing the two. But it’s also astoonishing that the reporter doesn’t call him on such an obvious obsfuscation. Oh WAIT!!!!!….this is CBS!

Tomolena1 on September 25, 2012 at 12:18 PM

Look, when the guy in charge can’t remember what the national debt is (even with everyone screaming $16 trillion every day and two credit agencies have downgraded US Treasuries), how the heck would you expect him to know the difference between debt and deficit or drachmas and dollars?

Owe is busy. There’s redistribution, building businesses, buying auto manufacturers, selling Volts for half price, buying votes with executive orders, Letterman, the View, defaming Romney, raising campaign money, pandering to his base, Pimp with a limp, and other bumps in the road.

katablog.com on September 25, 2012 at 12:42 PM

Kroft did not even call Obama on talking “deficit” when the question was about “debt”.

Yep, that was another point I meant to mention.

Now, can you imagine if Kroft or anyone dared to call teh Owe on something like mixing up debt and deficit?

katablog.com on September 25, 2012 at 12:46 PM

“Obama is the biggest hoax upon the land” –paraphrased Clint Eastwood

Schadenfreude on September 25, 2012 at 1:12 PM

Romney MUST hammer Obama on this point. He can not let the lie stand that all of Obama’s economic woes are the result of Bush. It is a disgustingly childish lie, but it is being repeated and believed over and over.

AnotherOpinion on September 25, 2012 at 1:29 PM

And over the last four years, the deficit has gone up, but ninety percent of that is as a consequence of two wars that weren’t paid for, as a consequence of tax cuts that weren’t paid for, a prescription drug plan that was not paid for, and then the worst economic crisis since the Great Depression.

Two wars not paid for? That’s why Obama started a third war in Libya, to replace Gaddafi with thugs who kill our ambassador?

You don’t “pay for” tax cuts. Tax cuts bring less money into the Government, and you have to CUT SPENDING to match your revenues. That’s the whole point of tax cuts–leave more money to people and businesses, so they can create jobs and get people off the dole.

A (Medicare) prescription drug plan not paid for? So you add on ObamaCare which costs many times more, and rob Medicare of $716 billion to “pay for” ObamaCare, and push Grandma over the cliff?

The worst economic crisis since the Great Depression? Hardly. The banks have paid back most of their TARP money, but people can’t find jobs because ObamaCare and all the new regulations and the “war on energy” are PREVENTING the recovery.

Steve Z on September 25, 2012 at 2:47 PM