Tuesday, November 16, 2010
What Are Republicans Really Good At? Creating DEBT
Take a look at this table that I found over at Angry Bear.
In particular, look at the fourth column, "annualilzed growth rate". This column is the growth rate of the deficit during the president's term. Here is what it says:
Leading the charge with an annualized deficit growth rate of 11.83% is GW Bush, the Number 1 debt creator. What is Bush? He is a republican.
Coming in at Number 2, with an annualized deficit growth rate of 9.50% is the GOP GOD Reagan. What is Reagan? He is a republican.
Number 3 greatest annualized deficit creator with a growth rate of 8.76% is Ford. What is Ford? He is a republican.
OK, what about Number 4. Number 4 best annualized deficit creator with a growth rate of 7.74% is Obama. What is Obama. He is a Democrat. But remember, Obama has been president for less than two years and he inherited a massive budget deficit from Bush which he has reduced, and he inherited an economy is collapse. Even given these two facts, he is only number 4. There are three republicans who did much better than he has done in creating debt.
Let's move on to Number 5. Number 5 on the list with an annualized deficit growth rate of 7.22% is GHW Bush, father of GW Bush. What is GHW Bush? He is a republican. At least Bush Jr. was able to beat his father at something. He was a better deficit creator than the old man, and he did it for twice as long. Let's give him a rousing raspberry.
These are the five champions. Four republicans and one Democrat. The republicans have a total of 23 years in the presidency. The Democrat less than 2 years. The republicans clearly beat the Democrats on deficit creation.
And one other thing to note. Who did the best job in reducing the deficit? Jimmy Carter, the president that the republicans love to malign. Well, I guess when you are the greatest deficit creators in the nation, you are going to try to disparage anyone who reduces the deficit at an annualized rate of 1.02%.