I blame the Bush Administration and the Republican Congress’s of the early 2000s with their two-trillion in tax cuts, that weren’t paid for and their two unpaid for wars in Afghanistan and Iraq and their Medicare expansion. Their constant borrow and spending that stayed with President Bush throughout his administration. And President Obama’s and his Democratic Congress in his first two years for failing to reverse those policies. Leaving in the borrow and spending to deal with the Great Recession. And of course the Great Recession, as well as the Democratic and Republican leaderships for their inability to take on their fringes when it comes to the debt doing things they view as completely unacceptable, for the downgrade of 2011.
But I put more blame on Speaker Boehner, than I do President Obama. Because they had a long-term comprehensive deal in place in the summer of 2011 that put tax reform on the table. That the Speaker walked away from, because the Tea Party views closing tax loopholes even as tax increases that should never be passed into law.
But Jack Hunter is dead wrong to blame what he views as liberalism, a warped view at that, for the American downgrade. Since it is really the Great Recession that has had a lot to do with the current debt situation. Along with two unpaid for wars that are now in the trillions of dollars and both Democrats and Republicans increasing the role of government. As they’ve both decreased the revenue sources to pay for that government expansion.
If you really want to blame the downgrade on anyone, blame it on the policies and people who put those policies in place for the downgrade. I know that sounds like a warped concept, but commonsense tends to sound warped in Washington to begin with. President Bush, comes in with a four-trillion debt and leaves with a eleven-trillion debt and the Great Recession. Which didn’t happen by accident. Again, the two unpaid for wars that are still not over.
Three-trillion in tax cuts, that weren’t paid for, that didn’t have much if any positive effect in the economy.
The seven-hundred-billion dollar Medicare expansion from President Bush that wasn’t paid for.
Most of the spending in the Obama Administration, has been to deal with the Great Recession. Not to create new Federal programs. If you want to downgrade anything, downgrade Bush/Cheney neoconservatism.