The budget surplus went into a debt spiral with two unfunded wars,
the unfunded prescription drug Medicare Modernization Act of 2003 and
unfunded tax cuts. Today, President Obama is showing a gain of jobs in
the last months and our troops are coming home from an unnecessary war
and expense in Iraq. More Americans have affordable health care, the
financial system has been stabilized and the stock market is up, which improved retirement plans for many Americans.We
believe that tax cuts for the majority of Americans — those earning
less than $250,000 — can be beneficial to job creation and the economy
along with job-incentive based benefits to the private sector. We cannot
afford to go back to Republican
policies, unfunded tax cuts, wars, legislation and programs, and outsourcing jobs overseas, that got us into the debt spiral and mess.
Ok, quickly regain your composure, suck down an adult beverage if you must and get ready for my rebuttal as I dispel the many lies and distortions from this lying, leftist demagogue.
1) The mischaracterization of the Clinton economy- The 1990s were a sad decade for America as we saw our manufacturing economy disappear to China in rapid fashion. What replaced those jobs? Low paying "service sector" jobs which produced nothing and are now being lost on a daily basis. The 1990's economy was a bubble both in the stock market and the housing industry. These bubbles were manufactured and sustained by the Federal Reserve, the media and the Clinton administration. Bush inherited both as they popped!
2) Tax revenues and the mythical Clinton surplus- Tax revenues were shooting up due to the bubble in the tech sector which popped catastrophically in March of 2000. Since then, people have been taking losses on those stocks as deductions on their taxable income. The liars in the Clinton administration used accounting tricks to project ever increasing tax revenues and PROJECT surpluses. They also re-financed our nation's colossal debt with short-term, lower interest bonds to reduce the amount of interest payments. Once these debt instruments had to be re-financed at a higher interest rate, the interest payments jumped massively and the surpluses evaporated.
3) Mischaracterization of the Bush economy- By all objective accounts, George W. Bush inherited a terrible mess of a country. 9/11 only 7 months away and nobody knew it. al-Qaeda, the Taliban and Iran all plotting together to sow terror and panic throughout the middle east as well attack the USA. The tech bubble freshly exploded which left hundreds of billions of dollars hemmorrhaging from our economy. The housing bubble growing due to Clinton mismanagement of Fannie Mae, Freddie Mac and repeal of the Glass-Steagall Act of 1933. Ms. Wielgus doesn't acknowledge that the Bush tax cuts are what turned the nation's economy around when it was at its darkest hour, the post-9/11 era. Either due to her own anti-capitalism agenda or her ignorance, she also doesn't acknowledge that it was the Clinton Mortgage Bubble (CMB) combined with astonomically expensive fuel prices in 2008 that stopped our economic growth dead in its tracks! Furthermore, she doesn't even mention that the Democrat-Socialist party took control of Congress in January of 2007.
4) Assorted lies and mischaracterizations that are classic statist psychobabble- I love the use of the word "unfunded" by this statist. She throws it around as easily as Obama says "we inherited this mess". When you hear a leftist use the word "unfunded", just remember you are listening to a shameless hypocrite who has stood for "unfunded", un-Constitutional programs their whole lives! Social In-Security is "unfunded", Medicare is "unfunded", all of these additional programs created by Democrat-Socialists are "unfunded" as well and will go broke over the next couple of decades. I agree with Ms. Wielgus that the Prescription Drug entitlement (MEDICARE PART D) was a bad idea but IT WAS ONLY AN EXPANSION OF A DEMOCRAT PRESIDENT'S (LBJ) PROGRAM. Is Ms. Weilgus trying to tell us that the entire Medicare program was a great idea, since it was passed by a Democrat but when a Republican tries to enhance the program by adding a missing piece.... it suddenly becomes a bad one? BALDERDASH! For the record, your humble blogger here (Mister Meat and Taters) is against the ENTIRE MEDICARE PROGRAM because it is not authorized under the Constitution!
About tax cuts being "unfunded", this is absolute sophistry and shows you how disconnected from reality this woman truly is. A tax cut gives people back the money they have earned by the hard work of their bodies and/or the intellectual gifts bestowed on them by God. For government to come in and take too much of this money for questionable purposes (like buying votes) is unethical not to mention immoral. We all have a finite period of time on earth with each year being a gift from God, thus we cannot afford to have government squandering such precious resources as time or money. Simply, government spending CAN be unfunded while tax cuts cannot.
About "outsourcing jobs overseas", it was the Clinton administration that took illegal campaign contributions from the likes of Chinese operatives such as Charlie Tri and Johnny Huang in the 1990's in exchange for agreements to ship jobs overseas to China. Yes, the GOP did take the Congress in 1995 with a resulting turnaround in stock market growth and the nation's finances to a certain degree. My, what a coincidence! I'm sure it was all due to the leadership of President Clinton who was extremely busy wooing the affections of a young intern named Monica "Blew-Insky"!