<span style='font-size: 14pt'>"He has never been rejected in his life, and I think there's something -- I'm not qualified to diagnose him -- but there's something wrong with a guy that is s going to go out of his way to do all these things ... he is incredibly arrogant and he really believes that he can talk anybody out of anything."</span>
<span style='font-size: 11pt'>-Senator Imhofe-</span>
I concur. (http://www.breitbart.tv/sen-inhofe-hints-arrogant-obama-might-need-mental-diagnosis-to-explain-timing-of-1967-borders-speech/)
05-27-2011, 04:39 PM
Surely if O's lost his key supporter, Sen. James I[n]hofe, nothing can save him now!
Sheesh! Who knew?
Gayle in MD
05-28-2011, 03:42 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Soflasnapper</div><div class="ubbcode-body">Surely if O's lost his key supporter, Sen. James I[n]hofe, nothing can save him now!
Sheesh! Who knew? </div></div>
Enter George W. Bush and the now-infamous tax cuts of 2001 and 2003. Actually professing to worry that eliminating the national debt too quickly would throw markets into turmoil, Republicans again promised lower taxes, higher revenue and boom times.
Again, they were virtually unanimous, voting to cut marginal income tax rates mainly on the wealthy by 224-1 in the House and 48-3 in the Senate.
Two wars and a large entitlement increase (Medicare, Part D) later, no boom took place. At its peak in 2007, the Bush economy had produced roughly 8 million jobs (7 million of which vanished in the 2007-09 financial crisis).Budget deficits soared, topping out with the $1.3 trillion FY2009 shortfall President Obama inherited that January.
Somewhat to their credit, when pressed none of Bush's top-level Treasury people endorsed the supply-side delusion. Aggravated by GOP Senate Minority Leader Mitch McConnell's recent invocations of the old-time religion, recovering Republican economist Bruce Bartlett compiled quotes from Bush administration officials debunking the idea.
"Will the tax cuts pay for themselves?" Edward Lazear, chairman of Bush's Council of Economic Advisors told a Senate committee in 2006. "As a general rule, we do not think tax cuts pay for themselves. Certainly, the data presented above do not support this claim."
Lazear's predecessor, Harvard's Greg Mankiw, has written scholarly articles arguing that the economic boost from tax cuts amounts to roughly 30 percent of government revenue forgone.
In direct consequence, the national debt almost doubled under George W. Bush, from roughly $5 trillion in 2001 to more than $10 trillion in 2009.
Also in consequence, every Republican leader now posing as a hard-line fiscal conservative -- Speaker John Boehner, Rep. Eric Cantor, Rep. Paul Ryan, and Sen. McConnell -- voted to increase the national debt limit at least seven times under President Bush. All of them, every time.
Ironically, of the present players, only Barack Obama made what he now calls a protest vote against raising the debt limit in 2006.
Under a Democratic president, GOP supply-siders are mad keen to give the wheel another spin. Republican House members voted 235-4 for Rep. Ryan's preposterous fantasy of balancing the budget by cutting millionaires' taxes by $1 trillion and downgrading Medicare to a cheaper voucher system.
So now the same posers vow to risk the "full faith and credit" of the U.S. Treasury during a fragile economic recovery unless President Obama agrees to deep cuts in the nation's social safety net. <span style='font-size: 14pt'>A mature electorate would have wised up by now.</span>
Funny, isn't it? The way they can pick and pick and pick at President Obama, who inherited a colossal mess, from Bush, after they ignored the miserable, deceitful, damaging policies of George Bush for eight damn years??
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