What I’m Politicing: The Heritage Foundation answers Barry’s Charge that this is Bush’s Fault
Last month, Barry said that actually his economic plans are change in Pres. Bush’s economic policies. The Heritage Foundation checks Barry’s claims.
- President Bush expanded the federal budget by a historic $700 billion through 2008. President Obama would add another $1 trillion.
- President Bush began a string of expensive financial bailouts. President Obama is accelerating that course.
- President Bush created a Medicare drug entitlement that will cost an estimated $800 billion in its first decade. President Obama has proposed a $634 billion down payment on a new government health care fund.
- President Bush increased federal education spending 58 percent faster than inflation. President Obama would double it.
- President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs. President Obama has already increased this spending by 20 percent.
- President Bush tilted the income tax burden more toward upper-income taxpayers. President Obama would continue that trend.
- President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.
Although the Heritage Foundation’s notes might seem of concern to only a small group of economists and political junkies, these findings should in fact concern anyone who cares about their future fiscal well-being. The American economy cannot sustain this kind of federal spending for long. (More analysis here.)
The fact checking helps to add some urgency to Jeffery Folks’ recent American Thinker article “My Socialist Past“:
Again and again, the handsome smile of the reformer is twisted into the callous sneer of the tyrant. Those who present themselves as saviors are always the most dangerous, for unlike the one true savior, who rendered unto Caesar the things that are Caesar’s, they must work their will on the things of this world, and one cannot remake the world without the application of force.
