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DEBT: GOP actions increased uncertainty

Letter by Jeffrey J. Brain, Bonney Lake on Dec. 5, 2011 at 11:55 am with 9 Comments »
December 5, 2011 2:29 pm

Re: “Obama’s the problem, not the rich” (letter, 12-3).

The blame for the recession and the extremely slow recovery rests squarely with the leadership of congressional Republicans.

The U.S. economy is consumer-driven. It thrives on “confidence” and tanks on “uncertainty.”

Let’s go back to the President Clinton era. It was a time of higher taxes and balanced budgets, which resulted in confidence. A net 21 million jobs were created. The economy was humming. In 1999, Clinton had a $250 billion budget surplus. He wanted to put the entire amount toward shoring up the Social Security trust fund.

Uncertainty set in the moment that the Republican-controlled Congress rejected Clinton’s proposal and instead went for a tax cut, which Clinton promptly vetoed.

Uncertainty was increased when George W. Bush was elected, and the tax cut was passed. The Social Security can was kicked down the road.

Uncertainty increased even more when the Republicans passed the Medicare prescription drug act and concocted an uneccessary war in Iraq – both with no funding. Balanced budget?

Reduced financial oversight (another Republican priority), resulting in the housing market collapse, was the spark that ignited the flammable gas of uncertainty and blew up the economy.

The Bush-era tax cuts will expire, and some confidence will be restored, and the Repblican leadership (minions of the tea party) will not stop it.

Stick with Obama and instead blame our fellow voters who are under the spell of those crafty Republican media manipulators.

Leave a comment Comments → 9
  1. Good letter. Be prepared for lots of personal attacks.

  2. muckibr says:

    Well said Jeffrey!!! You got it exactly right. Now, anyone with any integrity from the Republican Party should simply speak up and take responsibility, but don’t count it that. Besides creating problems, they next best thing they are good at is pointing fingers at someone else and never owning up to the truth themselves!

  3. concernedtacoma7 says:

    Way to re-write history. Clinton had the Internet bubble and a booming stock market adding to federal tax receipts (he had nothing to do with the cause).

    You ignore the recession Bush was handed, as well as 9-11.

    Uncertainty is Obamacare, the fear of our own debt crisis with a party addicted to spending.

    Housing market collapsed because the risk was taken from the banks and placed on the taxpayer. Bank were forced to make poor loans to people buying houses they could not afford. BHO pushes policies that kick the problem down the road, once again adding uncertainty. Dodd-Frank was/is a mess, solving no problems while adding layers regulation.

    Nice re-write, glad to see the ‘blame Bush’ line is still all you have.

  4. muckibr says:

    And they’er off!!! Pointing-Fingers in the lead, followed closely by Bush-didn’t-do-it, and about a length behind, It-Was-All-Obamas-Fault!

  5. beerBoy says:

    Clinton exacerbated the supply-side bubble economy made possible by reckless deregulation that started during the Carter Administration and popularized by Reagan. The inability of Congress to create any meaningful regulation to rein in the bubble machine of Wall St. is almost insignificant compared to the Fed’s manufacture of trillions upon trillions of fiat currency. Iceland may be the only country that has actually done something to solve the problem – everyone else has just done what Capitalism always tends to do when presented with a problem – they have evaded it and kicked the can down the road.

    All of these bubbles created to evade the problem of the previous bubble popping created to evade the previous bubble pop makes some folks incredibly rich but it is completely short-term and short-sighted. Virtual solutions to real problems create even bigger real problems. Capitalism is cyclical – all of these bubbles have masked the symptoms and prevented any correction to disease. They keep “solving the problem” by doing exactly the same things that created the problem.

  6. Vox_clamantis_in_deserto says:

    Add Revision:

    Clinton didn’t propose a single “balanced budget”. Nor did he leave a single surplus. factcheck.org has debunked this crap over and over.

    Helpful reading from that most biased of sources; salon.com:


    Pretty tough to find anything resembling credibility in a letter that is completely based on fallacy.

    Wake me up when the blame-game is over.

  7. LarryFine says:

    Talk about a selective memory… good grief.

  8. Pacman33 says:

    For crying out loud, will someone kick that juke box?
    It is stuck and has been playing that pathetic and worn out “Blame-Bush” song for over three years now.

    Could you imagine if the leftists were this creative with solutions for the economic recovery?
    We might have seen improvement instead of economic conditions only worsening when leftist had both majorities and the 0ne-termer in the White house.

  9. mercurio says:

    Mr Brain, With all due respect,

    Get one!

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