President Obama continues to talk about the situation he 'inherited'. But the question I have to ask is: Who did he inherit it from? He talks about 'eight years of fiscal mismanagement, but the Bush had a Republican Congress for only six of those years. The last year that the Republicans held the Congress, the deficit was on its' way down. The first year the Democrats held Congress, the deficit rebounded.
Now, granted, that's not entirely fair, given that the first year of a new Congress is operated under the budget of the previous one, so FY 2007, which saw an increase in the deficit, was a Republican year, for the most part. That year ended in October, 2007. Interestingly, the early part of that month marked the peak of the Dow Jones Industrial Average, at 14,164.53. Immediately after, as the government began to operate under the restraint of budget passed by a Democrat Congress, the Dow began its' steady slide to where we find it today, at little more than half the value it was at the end of the Republican's budgeting. The deficit, which the Democrats rode to power deriding as 'too high', set a new record under the Democrat Congress' fiscal watch. The second year of the Democrats' fiscal discipline has seen the deficit exceed one trillion dollars. Granted, we had a Republican President, but he can't spend a penny without the Congress' approval, and the Democrats gave it willingly.
I know that the Democrat Congress and the President will continue to claim to have 'inherited' the situation from the Republicans and from President Bush, but they are lying. Eventually, they will have to answer for the mess they've created.
BTW, have you noticed that the Democrats seem not to be concerned at all that the worldwide markets do not seem to approve of the nations' 'necessary' march toward Socialism? Everytime President Obama, Mr. Geithner, or the Congress hints at 'nationalization', the market tanks, but the they all seem oblivious to this.
But, have no fear. The Democrats are on the job, and they will focus on the economy with the same scrutiny they apply to their own tax returns...
Quod scripsi, scripsi.