Check the math on America’s deficit
10/04/2013 11:12 AM
10/04/2013 11:13 AM
Re: Sept. 30 letter by James Godhard, “The inherent problems of Fox News”
We are indebted to Mr. Godhard for reminding us about the continuing impact of the Tea Party Revolution since its success in returning control of the House of Representatives to the Republican Party in the November 2010 election.
Following a series of dreadful battles between President Obama and the House, the fiscal deficit has fallen to $1trillion in 2012 and is projected to fall to $.6 trillion in 2013 (Congressional Budget Office Baseline Budget). This is a stunning accomplishment for a political movement that controls only half of one-third of the federal government.
As Mr. Godhard points out, the supposedly “Fair & Balanced” Fox News has failed to educate its loyal viewers that under pressure from the Tea Party the House has effectively exercised its Constitutional authority to enact spending bills that have restrained the policy of the Obama Administration to rapidly increase the amount of federal government spending.
As background, we all remember the reckless Bush tax cuts for the wealthy, the extravagantly expensive Bush war in Iraq, and the unpopular Part D Medicare Prescription Drug plan that Bush and his Congressional Republican cronies rammed into law over the objections of the Democrats.
The combination of these three fiscally damaging actions led to an outrageous federal deficit of $161 billion in 2007, the last fiscal year in which the Republican Congress determined the level of taxation and spending for the federal government. The American voters in their infinite wisdom punished the reckless Republican spending by turning over control of the House and the Senate to the Democrats in the November 2006 election. Under the fiscally prudent leadership of Nancy Pelosi and Harry Reid, the resulting fiscal Deficits were $.4 trillion in 2008, $1.4 trillion in 2009, $1.3 trillion in 2010, and $1.3 trillion in 2011.
President Obama is fed up with the obstructionism of the Republican House. He has drawn a red line. The House must enact into law all of the spending desired by the President and the House must not make any changes in Obamacare. The federal government is now shut down. If this were a game of poker, the House holds a royal straight flush in terms of Constitutional power. Will the House leadership fold its winning hand and let the President win the pot?
The writer lives in North Myrtle Beach.
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