President Obama had a hissy fit last night in full view of the American public and the world. He’s upset because Boehner and the Republicans are not caving to his demand that they raise taxes on the American People. Last night he started his address by blaming Bush, and wrongfully claiming the “surplus” of 2000 was squandered. Jim Hoft of Gateway Pundit has an excellent piece refuting the President’s assessment:
No matter how many times he bashes Bush for his tax cuts it still won’t change reality.
During the Bush years, despite the 2000 Recession, the 9-11 attacks, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to reduce the budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007, a sixty percent drop.
In 2004 the federal budget deficit was 412 billion dollars. In 2005 it dropped to 318 billion dollars. In 2006 the deficit dipped to 248 billion dollars. And, in 2007 it fell below 200 billion to 162 billion dollars. During the Bush years the average unemployment rate was 5.2 percent, the economy saw the strongest productivity growth in four decades and there was robust GDP growth. Bush did this with tax cuts.
Obama wants you to believe that the recession forced him to triple the national deficit in a year.
Go read the whole piece. It is so worth the read.