EXCLUSIVE: The Deficit Is Not Default of Obama
Thursday 21 July 2011
by: Greg Palast, Truthout | News Analysis
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Charles Dickens' "Oliver Twist" gave debtors' prison a bad rap. Too bad.
I'd say that locking away GOP Majority Leader Eric Cantor in a penitentiary for deadbeats seems like a darn good idea.Let's talk about how we ended up in this pickle, bucking up against the "debt ceiling." From 2001 to 2008, a Republican president took an annual surplus of $86 billion left for him by Bill Clinton and ran up the budget deficit to over half a trillion in a year ($642 billion in 2008).
Altogether, George W. Bush blew up the national debt by over $3 TRILLION - then left the bills to Barack Obama.
For eight years, Bush spent like a drunk monkey. The world was the GOP's Bergdorf and they had our credit card. If there was a shiny, new war on the shelf, they just had to have it: Iraq, Afghanistan, and let's not forget the Fantasy Wars, the half a trillion dollars a year on fancy-ass weapons for a war that won't happen. (Example: the Virginia Class submarine. (The V-class was designed to attack Soviet subs. There are no more Soviet subs, but Bush ordered three dozen anyway - at $1.8 billion each.)
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Default lies with the Republican spendthrifts, Mr. President. So, I suggest you issue an executive order creating a new wing at Guantanamo: a debtors' prison for trillion-dollar deadbeats.the rest (delicious!!!):
http://truth-out.org/its-not-default-obama-jail-gop-deadbeats-debt-crisis/1311268412