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Why Do Many Right Wingers Think Obama Did Not Inherit This Economy?

By antivirus software Posted in: RISING

I as well as anyone who has been paying attention for atleast the last 10 years knows otherwise.
CBO report January 7 2009
Today the Congressional Budget Office (CBO) released its annual fiscal outlook, painting a
bleak picture of the economy, the budget deficit, and
growing debt. CBO reports a stunning $1.186 trillion budget
deficit for fiscal year 2009 and large deficits for as far as the
eye can see. Even these large numbers, however, understate
the true size of the deficits that the outgoing Administration
is leaving behind for years to come, because by law the CBO forecast cannot incorporate the
costs of ongoing policies that are not reflected in current law. CBO also forecasts real decline in
the size of the economy for 2009 as well as rising, sustained unemployment rates above
9.0 percent for most of 2010.
CBO’s report provides the penultimate chapter on this Administration’s dismal fiscal record. In
January 2001, the Clinton Administration left office with a budget surplus projected to be
$5.6 trillion over ten years. The Republican Administration has squandered that budget surplus,
and now is leaving a projected deficit of well over $4 trillion for that same period (2002-2011).
As bad as this record is, the final accounting of the Bush Administration’s fiscal legacy will
grow worse as it is updated to reflect the cost of legislation to address the economic crisis and the
deterioration of critical services that have foundered under eight years of neglect.
What is clear now is that the grim short-term budget outlook will continue or even worsen before
it gets better. Equally clear is the importance of a workable long-term budget plan to restore
fiscal sustainability.http://budget.house.gov/doc-library/FY20…

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  1. Nicholas Says

    He has inherited it and improved it

  2. Anonymous Says

    Right Wingers aren’t the sharpest pencils in the box.
    However, my guess is if the President were caucasian, they wouldn’t attempt to spin the facts. If he were a white man, they would acknowledge that he probably prevented a second great depression.

  3. Conservative Avenger Says

    every president inherits the economy of his predecessor…obama is just to inept, and blames GWB for
    his failure of leadership!!!

  4. alan Says

    Things were going south around 2006. And were bad by 2008. He has caused the economic problem to be longer.

  5. Mike W Says

    And what of it if he did? He volunteered to run for President, he knew what he was getting into if he were to be elected.

  6. Snaggle puss Says

    He inherited it from Bawney Fwank, Nazi Pelosi, and Harry Reeks

  7. Johnny Sokko Says

    He did inherit it.
    He also made it worse.

  8. free to rhyme Says

    Obama’s the same
    He always will blame
    Unless it improves
    His stand never moves
    It’s all how he must play his game.

  9. mhp_wizo Says

    but he made is worse. -… ….

  10. akelleys Says

    Hey guy, this is an age where citizens make it their business to have involvement in government affairs. We are also very well informed on the issues aka 10 percent employment.
    Even China has requested Obama slow down his spending. Germany along with the rest of Europe advised Obama he could shove his “spending to get out of the recession” theory.
    America has listened to the Republicans and voted accordingly last month.
    It appears that Obama is rethinking (2012 in mind) his economy policy. At least Obama has recently publicly stated that he is reading a book on the Regan Presidency.

  11. gws35 Says

    He inherited the economy of TWO YEARS AGO.
    THIS economy is all his.
    And if he knew two years ago that his plan would not make any significant impact in two years, he had two years to FIND A DIFFERENT PLAN.
    If he was out of ideas, he could have asked me, for example.
    Even I could have done better than this.

  12. smsmith5 Says

    Just because he inherited it didn’t give him the right to make it worst. have you seen a “workable long-term budget plan” come out of this congress? Increasing spending and taxes is not the change we were promised.
    The CBO are the same people that said “health care” reform would be revenue neutral. You will have to excuse me if i have a few doubts.
    Oh and if the President were white and doing the same things as Obama there would be no spin. A white democrat would fare no better than Obama.

  13. عايشة Says

    He did inherit it, but by continuing much of Bush’s policy that only benefits the rich he is not helping it much. Caving in on tax cuts for the rich, and giving the rich corporate power exactly what they want is not going to help the average person.
    They all serve their corporate masters. The entire corporatist establishment thinks of us as nothing more than things to be exploited for profits.

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