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Editorial on national debt was deceptive

August 13, 2012
The Leader Herald

The editorial Aug. 3 was both misleading and deceptive. The editorial attributes the entire $16 trillion national debt to the current administration when in fact the seeds of this debt and its accumulation were hatched under a Republican president and a Republican Congress. The difference between the Bush administration's $10 trillion debt as compared to the current $15-plus trillion debt is Obama put the cost of the two wars on the books where they should have been all along. That cost is approaching $4 trillion and is still growing after 10 years. Add to that the bank bailouts, $800 billion, also on the Bush watch, and you have close to $15 trillion. Obama is responsible for about $1 trillion for the stimulus package, which was enacted to stop the hemorrhaging of jobs (700,000 a month on the day he took office). Whether people want to admit it or not, it worked. The economy has been adding jobs every month, including adding 151,000 jobs last month.

 
 

 

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