Inherited $1.3 Trillion Deficit

Blogged in Economics by Hiker on Thursday, 23 July 2009

Last night, the president reminded us that “I inherited a 1.3 trillon dollar deficit.”

Okay, let’s review. In 2007 (the year the Democrats took over control of Congress), the deficit was $170 billion (having steadily declined from a high of $378 billion in 2003).

The following year, the Democrat-controlled Congress nearly tripled the deficit to $459 billion.

This year’s deficit is projected to more than triple again to $1.75 trillion. Most of this is Obama’s “stimulus” and omnibus spending bill.

So what part of this is “inherited”?

Special Interests

Blogged in Current Events by Hiker on Thursday, 2 July 2009

Why hasn’t Obama (or anyone else in his administration) mentioned “special interests” or “lobbyists” for a long time?

Anything to do with all the favors and handouts in the stimulus bill, the omnibus bill, the Waxman-Markey bill, or the upcoming health care bill? Most of which were inserted on the behest of lobbyists and special interests who have influence over the committee members who wrote those bills?

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