John on March 25, 2009 at 8:12 am
A hat tip to Hot Air’s headlines for this AP factcheck of Obama’s speech:
THE CLAIM: Responding to Republican critics in Congress who say his proposed budget carries an irresponsible deficit, Obama said, “I suspect that some of those Republican critics have a short memory, because, as I recall, I’m inheriting a $1.3 trillion deficit, annual deficit, from them.”
FACT: Obama inherited a whopper of a deficit, much of it due to policies and spending led by Republican President George W. Bush. But the Congress, which authorizes spending and is not blameless in driving up deficits, was controlled by Democrats in the last two years of Bush’s presidency.
With his usual flair, Ace says “He inherited these deficits like OJ inherited Niccole Brown’s head.” See the graph below. Note the declining deficits four years in a row until…the Democrats took over.
Click over and read the rest. In essence, Obama is whistling past the graveyard. When cap-and-trade or carbon dioxide regulation hits this economy, we won’t be seeing anything like the growth he forecasts.
Added: From the Heritage Foundation:
Category: Politics |