Monday, February 9, 2009

GOP’s outcry over deficits disingenuous

Jay Bookman hits the nail on the head today:

Republicans in Congress and on the TV and radio talk shows claim to oppose the economic stimulus out of concern about the national debt and a moral conviction that we should not saddle future generations of Americans with such a burden.

...We do face a long-term problem. Our gross federal debt is at $10.6 trillion, with a good portion owed to lenders in China, Japan and the Middle East. But how did that number get so huge?

Well, of that $10.6 trillion debt — a figure that accumulated over more than 225 years — a shocking $8.35 trillion was racked up during the presidencies of Ronald Reagan, George Bush and George W. Bush. And much as their apologists pretend otherwise, those numbers can’t be blamed mostly on Congress. During the Reagan era, for example, final budgets approved year after year totaled almost exactly what Reagan had requested.