Tag Archives: Gaffes

Are the Bush tax cuts to blame for Obama’s 1.6 trillion dollar deficits?

Obama Budget Deficit 2011
Obama Budget Deficit 2011

From the Wall Street Journal, the raw numbers on the Bush tax cuts and the deficit. (H/T Paul Ryan)

Excerpt:

But what about the liberal claim, repeated constantly, that the Bush tax cuts of 2001 and 2003 caused today’s deficits? CBO has shown this to be demonstrably false. On May 12, the budget arm of Congress examined the changes in its baseline projections from 2001 through 2011. In 2001, it had predicted a surplus in 2011 of $889 billion. Instead, it expects a deficit of $1.4 trillion.

What explains that $2.29 trillion budget reversal? Well, the direct revenue loss from the combination of the 2001 and 2003 Bush tax cuts contributed roughly $216 billion, or only about 9.5% of the $2.29 trillion. And keep in mind that even this low figure is based on a static revenue model that assumes almost no gains from faster economic growth.

After the Bush investment tax cuts of 2003, tax revenues were $786 billion higher in 2007 ($2.568 trillion) than they were in 2003 ($1.782 trillion), the biggest four-year increase in U.S. history. So as flawed as it is, the current tax code with a top personal income tax rate of 35% is clearly capable of generating big revenue gains.

CBO’s data show that by far the biggest change in its deficit forecast is the spending bonanza, with outlays in 2011 that are $1.135 trillion higher than the budget office estimated a decade ago. One-third of that is higher interest payments on the national debt, notwithstanding record low interest rates. But $523 billion is due to domestic spending increases, including defense, education, Medicaid and the Obama stimulus. Mr. Bush’s Medicare drug plan accounts for $53 billion of this unanticipated spending in 2011.

The last GOP budget was in 2007, and the deficit was $160 billion, ONE TENTH of Obama’s budget deficit. And that was WITH the tax cuts. The cause of the current trillion dollar deficits is Barack Obama’s spending.

Remember what the unemployment rate was under Bush:

Comparison of unemployment rates - Bush vs Obama
Comparison of unemployment rates - Bush vs Obama

I think that looking at the budget deficit numbers and the unemployment numbers is a good way to judge how capable a President is. It gets away from the media spin, the gaffes, the jokes on those liberal Comedy Channel shows. Just look at the numbers, because we all have to care about jobs and spending. Politics is about our freedom, prosperity and security. Not about making us laugh or feel superior to others.

How Michele Bachmann’s miscarriage shaped her pro-life views

Michele and Marcus Bachmann
Michele and Marcus Bachmann

From Life News.

Excerpt:

Campaigning in South Carolina, Republican presidential candidate Michele Bachmann said a “devastating” miscarriage helped shape her pro-life views on abortion. The compelling personal story ties in to her rationale for becoming a foster care mom.

While on the campaign trail in Rock Hill, South Carolina, the Minnesota congresswoman revealed she had a miscarriage decades ago and that the event led her to solidify her pro-life views and prompted her and her husband to become a foster home to 23 children over the years.

“After our second child was born, we became pregnant with a third baby,” Bachmann said, according to a Politico report. “And it was an unexpected baby, but of course we were delighted to have this child. And the child was coming along, and we ended up losing that child. And it was devastating for both of us, as you can imagine if any of you have lost a child.”

She said the miscarriage also prompted Bachmann and her husband Marcus to re-evaluate their personal and professional life goals.

“At that moment we didn’t think of ourselves as overly career minded or overly materialistic,” she said, according to Politico. “When we lost that child, it changed us. And it changed us forever.”

“We made a commitment that no matter how many children were brought into our life, we would receive them because we are committed to life,” she added.

Reporters at the event say Bachmann shared it about halfway through her town hall at Winthrop University on Wednesday night. The miscarriage story is not one that Bachmann has shared much and Peter Hamby from CNN reports that “Even some of Bachmann’s staffers were caught by surprise when she talked about the miscarriage and had not heard [the] story before.”

You can see pictures and videos of the event at Right Wing News, courtesy of John Hawkins. I really appreciate that John has been broadly supportive of Michele, because he is a major figure in the conservative blogosphere.

You can also find out more about Michele Bachmann from interviews, campaign speeches and speeches in the legislature.

AT LAST! Michele Bachmann is officially running for President in 2012

Full text of the announcement is here.

Excerpt:

This election is about big issues, not petty ones. When all is said and done, we cannot be about big government as usual. Then America will lose.

In Washington I am bringing a voice to the halls of congress that has been missing for a long time. It is the voice of the people I love and learned from growing up in Waterloo. It is the voice of reasonable, fair-minded people who love this country, who are patriotic, and who see the United States as the indispensable nation of the world.

My voice is part of a movement to take back our country, and now I want to take that voice to the White House. It is the voice of constitutional conservatives who want our government to do its job and not ours and who want our government to live within its means and not our children’s and grandchildren’s.

I am here in Waterloo, Iowa to announce today: We can win in 2012 and we will. Our voice has been growing louder and stronger. And it is made up of Americans from all walks of life like a three-legged stool. It’s the peace through strength Republicans, and I’m one of them, it’s fiscal conservatives, and I’m one of them, and it’s social conservatives, and I’m one of them. It’s the Tea Party movement and I’m one of them.

Photos:

I stole those pictures from the UK Telegraph. Canada’s Sun News Network had this segment on Michele Bachmann as well.

Campaign speeches, interviews and debates

Speeches:

Reactions from her recent debate performance:

Profiles of Michele Bachmann:

Michele Bachmann on television news

Let Americans spend their own money

Time to prioritize spending

Obama’s plan is to raise your taxes

Michele Bachmann in the legislature

Against socialism:

For economic growth:

Against ACORN funding: