Since President Obama took office, Republicans have attacked him for what they call out-of-control spending. Yet a report by Bloomberg News clearly shows that for the GOP, that attack is both hypocritical and phony. Bloomberg News reports:
“Yet the speaker, House Majority Leader Eric Cantor, House Budget Chairman Paul Ryan and Senate Minority Leader Mitch McConnell all voted for major drivers of the nation’s debt during the past decade: Wars in Afghanistan and Iraq, the 2001 and 2003 Bush tax cuts and Medicare prescription drug benefits. They also voted for the Troubled Asset Relief Program, or TARP, that rescued financial institutions and the auto industry.”
“Together, a Bloomberg News analysis shows, these initiatives added $3.4 trillion to the nation’s accumulated debt and to its current annual budget deficit of $1.5 trillion.”
The full Bloomberg News article is available here.