Presidents and the Two Parties

Blaming President and the “other party” only addresses part of the issue.

Sure U.S. debt has grown by $5 trillion since Obama has been in office, but congress is in charge of the budget.

Sure Bush promoted a cool $700 billion of corporate welfare on the banks and a few large corporations, two trillion-dollar wars, and promoting the tax cuts of 2001 and 2003, but congress was in charge of the budget.

The Clinton era budget surplus was largely a result of the over-heated economy at the time – over-heated as a result of federal malfeasance in the markets. The tax cuts Bush championed (and congress passed) wouldn’t have been so fiscally negative were it not for the recessions of 2003 and 2008.

Both parties are responsible for the Community Reinvestment Act of 1977, dismantling Glass-Steagall in 1998, ignoring the growth of the highly-leveraged derivatives markets, and ignoring the fraud and abuse in the mortgage markets, thereby setting the stage for vastly over-leveraged commercial banks and the 2008 financial collapse. Both parties are responsible for the massive growth of the military budget to the point that it eclipses all other nations combined. Both parties are responsible for setting up a welfare state so vast that it became a majority voting block. Both parties are responsible for lack of oversight of the Federal Reserve, which has failed so miserably in its goal to maintain a stable currency, that the value of that currency has declined almost 99% since the inception of the institution.

This country isn’t only broke. It is broken. We need to vote in revolutionary change before the country melts down, resulting in a major war (political fear/distraction), totalitarian domination, an otherwise disorderly regime change, or perhaps the worst, general malaise and long-term depression.

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