Originally posted by wittywonka
As I read the Facebook blurp that my Republican congressman wrote in response to the news that S&P had downgraded the US credit rating, in which he squarely placed the blame entirely on Obama and Reid's "lack of leadership at the top," I couldn't help but imagine what that blurp would have said had S&P done the same during the 2008 financial crisis when B ...[text shortened]... still in office.
In the world of hyperpartisanship, blame surely transcends all barriers.
Memories are short. Bush got severely criticized for deficits less than a third of what Obama has run.
Bush got raked for financing two wars, so Obama tried to do three.
There has been a lack of leadership on the debt ceiling. The Pubs ended up debating with each other, which showed what twits they are. In any negotiation, you make your pitch, then shut up. You don't bid yourself down or up.
The US credit rating probably should have been downgraded during the Reagan administration. We've been off the track since then, not due to Reagan's tax cuts, but due to the double cross on sending reductions that were supposed to take place.
Congress is always more responsible for overspending than any President. Clinton probably looks best from a financial and economic standpoint, but that's because the Republican Congress shot down almost all of his spending initiatives.
Bush 43 on the other hand had friendly Congresses and spent bigtime, not only on wars, but on social programs. The typical response of the Democrats to Republican overspending is that their new entitlement isn't adequately funded.
By the way, Bush went to Congress for permission for his two wars, but I don't recall Obama or Clinton asking for permission to pursue their military adventures.
The reality is that for a long time our government has lacked fiscal responsibility regardless of the party in the Whitehouse, or in control of Congress.
Anyone ever wonder how it is that we are able to loan money to other nations when we have to borrow to do so, and how China finances our debt when they run their own government on debt. Who is the ultimate lender?