More sobering than the Fed's Q.E. are the unprecedented deficits that Congress ran during the Obama administration.
In his speech, Obama claims to have cut the deficit "By more than half." But in FY2008, the last full fiscal year before Obama became president, the deficit was $458B, which at the time was the largest deficit in history.
That's because the bill for the Democrats' deficits under Obama will start coming due on October 1, which is the start of fiscal 2019 and will mark the ten-year anniversary of Pelosi's first trillion-dollar deficit.
Democrats actually expect voters to put them back in charge of the budget at the exact moment that we start paying back the bulk of the trillion-dollar deficits that they, the Democrats, ran up under Obama.
Voters should remember that in the middle of the Great Recession and a trillion-dollar deficit, Democrats passed a huge new entitlement: Obamacare.
Democrats belong to the only party that has run trillion-dollar deficits while controlling both the Congress and the presidency.
When Democrats told us in 2006 that they would not make the deficit worse and would abide by the constraints of PAYGO, we gave them power, and they made the deficit far worse than it'd ever been.
https://www.americanthinker.com/articles/2018/09/the_fiscal_lunacy_of_electing_democrats_to_congress.html
In his speech, Obama claims to have cut the deficit "By more than half." But in FY2008, the last full fiscal year before Obama became president, the deficit was $458B, which at the time was the largest deficit in history.
That's because the bill for the Democrats' deficits under Obama will start coming due on October 1, which is the start of fiscal 2019 and will mark the ten-year anniversary of Pelosi's first trillion-dollar deficit.
Democrats actually expect voters to put them back in charge of the budget at the exact moment that we start paying back the bulk of the trillion-dollar deficits that they, the Democrats, ran up under Obama.
Voters should remember that in the middle of the Great Recession and a trillion-dollar deficit, Democrats passed a huge new entitlement: Obamacare.
Democrats belong to the only party that has run trillion-dollar deficits while controlling both the Congress and the presidency.
When Democrats told us in 2006 that they would not make the deficit worse and would abide by the constraints of PAYGO, we gave them power, and they made the deficit far worse than it'd ever been.
https://www.americanthinker.com/articles/2018/09/the_fiscal_lunacy_of_electing_democrats_to_congress.html
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