Deficit not my fault, Obama says

December 8, 2009

President Barack Obama doesn’t like all this flak from the Republicans who accuse him of running up the budget deficit.

OBAMA/Any why should he? His approval rating has dropped below 50 percent in at least two recent polls and you can assume the poor economy has something to do with it.

At his big speech at the Brookings Institution today, Obama said it was not his fault, that the $787 billion stimulus plan that he and his Democrats pushed through Congress is “only a very small part of our current budget imbalance” and that he inherited a $1.3 trillion deficit.

Who did he inherit from? Obama didn’t say, but his implication was clear.

“In reality, the deficit had been building dramatically over the previous eight years,” he said.

Senate Republican leader Mitch McConnell, interviewed by Fox News’ Neil Cavuto, said that under Obama, the deficit has gone way up and said “we don’t need any lectures from them about spending.”

Here’s what McConnell said:

“Well let’s put it in perspective. The deficit in the year that just ended is bigger than the last four years of the Bush Administration combined. The deficit spending that went on during the Bush years was almost entirely related to national security, the war. The war in Afghanistan, the war in Iraq,” he said.

“It was done on an almost a totally bipartisan basis. They agreed that it was important to protect America. So yeah, I wish we’d had a smaller debt. I wish we hadn’t been attacked on 9/11. But these people have been on a spending spree that’s unprecedented in American history. They are on a track to double the national debt in 5, triple it in 10. Last year’s deficit bigger than the last four years combined. We don’t need any lectures from them about spending,” McConnell said.

For the record, Obama said he still feels he can cut the deficit in half by the end of his first term.

Who do you think is at fault on the budget deficit?

Click here for more Reuters political coverage

Photo credit: Reuters/Jason Reed (Obama delivers speech on economy)

9 comments

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All the president has no credibility and the American people are responding appropriately. a 46 percent approval rating is nothing to be proud of. He achieved this in a mere 10 months. As I have said before, the majority of Americans don’t want anything to do with his rhetoric or agenda.

We don’t want “his” health care (?) plan, cap and tax, regulations, gun control or any other far left progressive agenda.

Oh, there are those who say the 9/12 March on Washington, recent health care rally, the Palin book crowds and so on, are non existent. However the polls back up the anger which is building day by day.

2010 is going to be an interesting election year.

Posted by TyC | Report as abusive

TyC, you sound angry. Do you really believe all that is going badly is simply the fault of President Obama or his predecessor? The mess this nation finds itself in is at least 40 years in the making. Some would argue we can look much further back than that.

Posted by eddieblack | Report as abusive

Here comes the broken record himself, with the same post over and over again. President Obama may poll under 50%, but that does not mean the “majority” wants to turn this country over to the Teabaggers or the Republicans any time soon. Conservatives governed for years but their agenda of undermining law and tax cuts for the super rich did tremendous damage to the nation. Throughout the Bush administration, household income declined, poverty increased, childhood poverty increased even more, and the number of Americans without health insurance soared.

I am not a fan of the Cap and Trade scheme, I prefer to call it Cap and Giveaway. But climate change is a fact, and we as a species must act, or face the consequences.

No one says the 9/12 March on Washington, recent health care rally, the Palin book crowds and so on, are non existent. However the versions of these events promoted by the cheerleaders claiming millions on 9-12, tens of thousands at the anti-healthcare rally, and tens of thousands at book-signings are utter nonsense.

Anger is building on the right, but they have always been angry. Nothing new there. With the conservative movement being divided by its own anger and frustration, 2010 will be an interesting year indeed.

Posted by getplaning | Report as abusive

eddieback, I agree with you. No, I am not angry, just stating my opinion.

I am no fan of Obama in any way shape or form. In the past, I have said this is a problem which has been building for decades and it is just political posturing to blame the previous eight years for the problems we have today. That is a cop out.

But if you or anyone else thinks what this president is doing is not going to end very badly for us, then we part ways in our opinions. We cannot spend ourselves out of debt. Think about that for a moment. “Spend ourselves out of debt.” We can’t do that in our personal lives without dire consequences, the government can’t do it without dire consequences either. We will pay the price for all this spending of money we don’t have (literally).

As for climate change. Duh. Climate change is a fact, that doesn’t make it a problem and the “real” numbers don’t back up that fantasy. What a a farce global warming/climate change is. The sky is falling, the sky is falling…No, it isn’t falling, but our economy is, so we better stop the spending now…

The photos and comments from those who attend the rallies are real. I have friends and relatives who have attended and it is a crime the news decides not to report the facts…the rallies are huge.

Posted by TyC | Report as abusive

TyC, might I suggest you read Jared Diamonds book “Collapse”? He makes a very compelling argument that a distressed environment is one of the main causes attributed to socio/economic collapse through out history. He also argues that corrupt government and religious dogmatic adherence interferes with a sound public decision making process when deteriorating conditions must finally be confronted.

Posted by eddieblack | Report as abusive

The deficit was 400 billion when obama took office. where did he get the 1.3 trillion from? oh that’s his deficit. he is just too dishonest to admit or he doesn’t know since he himself doesn’t do anything but make campaign speeches 11 months into his term. He ourtsources his work to the hard left congressional democrats and doesn’t know what they are doing, which is what will be his downfall.

Posted by jfl204 | Report as abusive

jfl204, when adjusted for emergency expenditures, deficit spending hasn’t down near 400 billion in over a decade.

Posted by eddieblack | Report as abusive

CORRECTION:jfl204, when adjusted for emergency expenditures, deficit spending hasn’t been down near 400 billion dollars in over a decade.

Posted by eddieblack | Report as abusive

To all those who are saying this was decades in the making. You are wrong. Clinton left office with a surplus of over $200 billion. Bush gave tax cuts to the rich and didn’t pay for two wars, one which we should never have started. His economic policies were a disaster unless you were in the top percentile of the wealthiest Americans.

The Congressional Budget Office had projected a deficit of $1.2 trillion for 2009 before Obama ever took office. It’s so scary that people can’t do a little research and would rather believe the lies from Fox News. I’m not talking research on blog’s that just repost Fox News stories either. There are legitimate sources of information if you’re willing to look for them. Try the CBO website for one.

Posted by xjam | Report as abusive