Don’t Tread on History
Posted: July 28th, 2011 | Author: apolkey | Filed under: Politics | Tags: bush tax cuts, debt ceiling, deficit, national debt | Comments Off“They [tax cuts] are essential for the long run, as well — to lay the groundwork for future growth and future prosperity. That growth will bring the added benefit of higher revenues for the government — revenues that will keep tax rates low, while fulfilling key obligations and protecting programs such as Medicare and Social Security.” George W. Bush, January 7, 2003.
The once pristine full faith and credit of the United States is spiraling towards denigration and default for no reason other than to appease those whose visceral hate of President Obama supersedes any sense of responsibility. Their puppeteers obdurately re-write American history into a false Founding Father – World War II – Ronald Reagan narrative, while demanding that people like me forget the most obvious and proximate historical cause of our current predicament: The George W. Bush Presidency.
I will not forget. I will not get over it. George W. Bush is certainly not exclusively responsible for our collective failure to prepare for globalization, anticipate the evisceration of blue collar jobs by better training the workforce, or our boom/bust obfuscations of reality. Nevertheless, the policies of his lost decade hastened rather than cushioned the blows.
While George W. Bush and Republicans in Congress destroyed surpluses, ran up the national debt and routinely increased the debt ceiling, their White Citizens Council begat John Birch Society begat Christian Coalition begat Tea Party “conservative” cohorts looked the other way. When the country should have railed against rampant deficit spending during the Bush years, instead this is what we talked about:
| Year | 2001 | |
| Deficit | +$127 billion (surplus) | |
| Debt Ceiling Increased? | No. | |
| Senate Control | Republican | |
| House Control | Republican | |
| News | $1.65 trillion tax cut signed. | |
| No Child Left Behind Act signed. | ||
| 9/11. | ||
| Afghanistan invaded. | ||
| USA PATRIOT Act signed. GITMO opened. | ||
| Enron files for bankruptcy. | ||
| Year | 2002 | |
| Deficit | -$158 billion | |
| Debt Ceiling Increased? | Yes. | |
| Senate Control | Republican | |
| House Control | Republican | |
| News | Pre-emptive war doctrine announced. “Axis of Evil” declared. | |
| Iraq said to have Weapons of Mass Destruction (WMDs). | ||
| Department of Homeland Security created. | ||
| In wake of Enron, corporate regulatory reform legislation signed. | ||
| Sen. Max Cleland (lost three limbs in Vietnam) called unpatriotic. | ||
| Republicans pick up 2 Senate seats, 8 House seats. | ||
| Medicare Part D (Prescription Drug Benefit) signed. | ||
| Year | 2003 | |
| Deficit | -$374 billion | |
| Debt Ceiling Increased? | Yes. | |
| Senate Control | Republican | |
| House Control | Republican | |
| News | Colin Powell sent to UN to argue case for Iraq War. | |
| $350 billion tax cut signed. | ||
| Iraq War launched. | ||
| “Mission Accomplished” aircraft carrier landing | ||
| No WMDs in Iraq. Whoops, our bad. | ||
| Saddam Hussein captured. | ||
| Year | 2004 | |
| Deficit | -$413 billion | |
| Debt Ceiling Increased? | Yes. | |
| Senate Control | Republican | |
| House Control | Republican | |
| News | Abu Ghraib torture photos leaked. | |
| Bush announces mission to Mars. | ||
| Bush endorses constitutional amendment to ban gay marriage. | ||
| John Kerry defeated. | ||
| Republicans pick up 4 Senate, 3 House seats. | ||
| Year | 2005 | |
| Deficit | -$319 billion | |
| Debt Ceiling Increased? | No | |
| Senate Control | Republican | |
| House Control | Republican | |
| News | Bush signs bill intervening in Terri Schiavo matter. | |
| Bush proposes partial privatization of Social Security. | ||
| John Roberts and Samuel Alito appointed to Supreme Court. | ||
| Central American Free Trade Agreement signed. | ||
| Tom DeLay scandal. | ||
| Katrina. | ||
| Year | 2006 | |
| Deficit | -$248 billion | |
| Debt Ceiling Increased? | Yes | |
| Senate Control | Republican | |
| House Control | Republican | |
| News | USA PATRIOT Act renewed. | |
| Jack Abramoff scandal. | ||
| Mark Foley scandal. | ||
| Democrats pick up 31 House seats, 6 Senate seats. | ||
| Don Rumsfeld fired. | ||
| Year | 2007 | |
| Deficit | -$162 billion | |
| Debt Ceiling Increased? | Yes | |
| Senate Control | Democratic | |
| House Control | Democratic | |
| News | Iraq War “surge” commenced. | |
| US Attorney firing scandal. | ||
| Scooter Libby scandal. | ||
| Funding for SCHIP (Childrens Health Insurance Program) vetoed. | ||
| Funding for stem cell research vetoed. | ||
| Simmering foreclosure crisis becomes apparent. | ||
| Year | 2008 | |
| Deficit | -$455 billion | |
| Debt Ceiling Increased? | Yes. Twice. | |
| Senate Control | Democratic | |
| House Control | Democratic | |
| News | Democratic presidential primaries. | |
| $150 billion Economic Stimulus Act signed. Everyone gets a check. | ||
| Dow falls 20% in five months. Bear Sterns collapses. | ||
| Waterboarding Ban vetoed. | ||
| Fannie Mae and Freddie Mac collapse. Lehman Brothers collapses. | ||
| AIG teeters. Largest economic crisis since Great Depression. | ||
| Bush signs $700 billion bank bailout. | ||
| Barack Obama elected President. | ||
| Bush signs first auto bailout. |
