Excellent piece by Grunwald.
Sigh. It’s rich to hear Ryan — who voted for the Bush tax cuts, the Bush wars and security spending, the Bush prescription-drug benefit, the Bush bank bailout, the Bush stimulus in 2008 and, yes, a $715 billion House Republican substitute stimulus that was extremely similar to the Obama stimulus in January 2009 — complain about debt.
Yes, the stimulus added to the debt. But you know what really would have added to the debt? A depression. In the fourth quarter of 2008, the U.S. economy crashed at an 8.9% annual rate. At that pace, we would have lost an entire Canadian economy in a year. We lost 800,000 jobs in January.
Read more: swampland.time.com
Of course, everything that happened after the 2008 election was Obama's fault, lol. Or, to hear some professionals tell it, the fault of the Democratic Congress in '07-'08, even bigger LOL.
I will have to read his book. |
