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Friday, January 29, 2010

Who is more fiscal responsible, Democrats or Republicans?

If you look over the past several administrations, it becomes apparent that the Democrats have been better a controlling the national debt that the Republican's. So their claim of great fiscal managers falls flat on the data.

President Obama inherited 4 trillion debt and a 8 trillion dollar liability over the next decade. Why? The Bush W administration with the Republican controlled Congress passed major legislation that added hundreds of billions of dollars of new programs without a way to pay for them, like Medicare Part D, the prescription drug benefit that has an annual debt of over 300 billion and no reduction in spending in other areas or raising taxes or premiums. Then they created new government agencies and expanded others that added another 700 billion dollars in budget demands, again without a way to pay for them. They also financed two wars with off-budget emergency funding to mask the real budget deficient. All of this was done with borrowed money. As Senator Hatch stated about Medicare Part D he voted for, "It was OK then, we never intended to pay for it." Under Clinton he had a pay-as-you-go policy. If you can't pay for it, then I'll veto it. It worked, he had a surplus when he left office.

So think twice when you think the Democrats are the Tax and Spend party. In truth, they are the save the money party and the Republicans are the borrow and spend party. The proof is in the numbers...

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