Ironsides, there is a big difference between Obama deficit and Bush deficit. Bush inherited a healthy, roaring economy, he inherited a healthy budget surplus. Bush blew it all away, on tax cuts benefiting mostly the rich. In the process, he got rid of all the surplus and replaced it with huge deficits.
It was a self inflicted wound, bush was totally to blame for the deficit. Obama on the other hand, inherited a precarious economy, one which had every possibility of falling off a cliff. Drastic measures needed to be taken to avoid a serious depression, of the 30s style. Desperate situation calls for desperate actions.
So I for one wouldn’t blame Obama for running huge deficits, he had to do something to keep the economy from going into a long term depression. But you are right, the deficit cannot be sustained for long. There are some signs that the worst may be over, that we may finally see the much anticipated recovery. If that happens, I would like to see Obama run in 2012 on the platform of reducing the deficit and balancing the budget.
It may very well have been a self inflicted wound, but you do not stab yourself more in order to get better. The way he is going now, Obama will never in his lifetime see us with a reduced or balanced budget. That will be up to our grandchildren to fix. I understand we had to spend some money to help recover, but Obama has gone to far.
I'd like to see him run in 1994 also. (saw that Freudian slip) :lol: