The following post appeared on Liberaland, a blog presented by Alan Colmes at Alan.com:
Submitted by Dan Weymouth
What’s also important, but not evident, on this chart is that Obama’s major expenses were temporary — the stimulus is over now — while Bush’s were, effectively, recurring. The Bush tax cuts didn’t just lower revenue for 10 years. It’s clear now that they lowered it indefinitely, which means this chart is understating their true cost. Similarly, the Medicare drug benefit is costing money on perpetuity, not just for two or three years. And Boehner, Ryan and others voted for these laws and, in some cases, helped to craft and pass them.
Regardless who caused the debt problem, much of the attention over the past weeks has been how to get out of the fire, both short-term and long-term.
It has not been easy.
Today, in trying to reduce the debt and to ensure the country does not go into default, Barack Obama faced the media and urged Democrats and Republicans to come together saying there are multiple ways to resolve the debt ceiling mess, but it has to be bipartisan and it has to happen fast. (see video)
Both Obama and even Speaker John Boehner must overcome the powerful Tea Party forces. Yesterday, Boehner lashed out at the Tea Party which shows tension between the ultra conservatives and the conservatives on the issue of the debt ceiling. (see video)
However, one of the big challenges, however, will be whether Tea Party politicians such as Michelle Bachmann will move any at all on the debt ceiling issue which she fully blamed President Obama for inflaming. She discussed this when she appeared before the Press Club in Washington, yesterday,
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