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Republicans are responsible for America’s debt?
Republican fiscal responsibility is a misnomer
Nancy Pelosi posted the picture you see here to show which of the last five presidents increased the country’s debt the most. According to an article on Wikipedia, “Economist Mike Kimel notes that the last five Democratic Presidents (Clinton, Carter, LBJ, JFK, and Truman) all reduced public debt as a share of GDP, while the last four Republican Presidents (GW Bush, GHW Bush, Reagan, and Ford) all oversaw an increase in the country’s indebtedness. Economic historian J. Bradford DeLong observes a contrast not so much between Republicans and Democrats, but between Democrats and "old-style Republicans (Eisenhower and Nixon)" on one hand (decreasing debt), and "new-style Republicans" on the other (increasing debt).” There is also a very interesting break down on presidents and the national debt since 1945.
The winners in the indebtedness derby are Ronald Reagan and George W. Bush. I am personally sick of Republicans blaming our current President for our economic problems. The truth is that Ronald Reagan screwed our children by raising the national debt 189% and Bill Clinton handed George W. Bush a balanced budged and a chance to lower the debt. Bush then raised the US national debt 115%.
Republicans are always talking about smaller government fiscal responsibility, but their history betrays them. There is no fiscal responsibility when it comes to Republican politicians. Over the past 70 years, Democrats have been more responsible with the country’s purse.
As for my evangelical friends, I again point you to your core beliefs that a leader must be responsible for his household both morally and financially. VOTE for Barack Obama in 2012, he is the best man for the job. No rhetoric, just a man doing the job on a daily basis responsibly.