Barney Frank, the slobbering fool from Massachusetts, proclaims that Americans have amnesia; that we equate Obama's inauguration with Pearl Harbor and 9/11; that we believe that massive deficits just popped up overnight. He then blames tax cuts and the two wars for our huge budget deficit.
This man played a huge role in the corruption of Fannie Mae and Freddie Mac. This man is partially responsible for the out of control spending from an irresponsible congress; and he has the balls to lecture us on the nations debt.
Well Mr. Frank lets take a look at the facts as outlined by the Washington Examiner:
* Obama's stimulus, passed in his first month in office, will cost more than the entire Iraq War -- more than $100 billion (15%) more.
* Just the first two years of Obama's stimulus cost more than the entire cost of the Iraq War under President Bush, or six years of that war.
* Iraq War spending accounted for just 3.2% of all federal spending while it lasted.
* Iraq War spending was not even one quarter of what we spent on Medicare in the same time frame.
* Iraq War spending was not even 15% of the total deficit spending in that time frame. The cumulative deficit, 2003-2010, would have been four-point-something trillion dollars with or without the Iraq War.
* The Iraq War accounts for less than 8% of the federal debt held by the public at the end of 2010 ($9.031 trillion).
* During Bush's Iraq years, 2003-2008, the federal government spent more on education that it did on the Iraq War. (State and local governments spent about ten times more.)
So, Barney who is the slobbering amnesiac now?
So, Barney who is the slobbering amnesiac now?
Read more at the Washington Examiner: http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Little-known-fact-Obamas-failed-stimulus-program-cost-more-than-the-Iraq-war-101302919.html#ixzz0yPrguEdk
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