By NEMS Daily Journal
Remember the GOP started the Depression
After reading the column by George Will, “Vain Obama places the presidency on shaky ground,” I started wondering it if it was written out of arrogance or ignorance. Let’s go back and find out where our terrible situation started.
When President Bush took office he had a surplus, and in eight short years, he put our economy in a deep, deep ditch. No one could imagine how far we were down.
Here are some reasons: He didn’t pay for anything, including wars in Iraq and Afghanistan. He borrowed all the money. Then, he took out any banking regulations which lead to the huge financial problems.
I read one column that said, “Obama was trying to cover a $3 trillion hole with a $750 million bail-out of the banks.” We must go back to the scene of the crime before making any rash statements about the present.
Now I would like to catch this generation up with the 1929 crash (the Great Depression). The Republican administration under President Hoover was in charge (two crashes in my lifetime and both were under the Republicans) and they drove it into a ditch. I would probably forgive them, but if they did it again, I would never give them the keys any more.
Since I read the Journal every morning and watch at least three hours of news each evening, I feel well informed.
Now for the national debt. The main sticking point is the Republicans will not accept any new taxes on the wealthy. They say these folks create most of the jobs.
Oh, I might add, there are no laws that says they must create jobs with the tax breaks.
Here’s something else. Warren Buffett (a billionaire) said his secretary pays a greater percentage of her income than he does.