Steny Hoyer, still stinging from having "his" chance for House Speaker pulled out from under him in November, comes out swinging at both Bushes and Reagan(?) for the current debt crisis we are in. While debt did go up under Reagan ($1.4T), the deficit as a percentage of GDP actually fell during that period. Steny conveniently forgets that the Democrats held both the House and the Senate during the Reagan years. Where does spending originate Steny? Oh yeah, in the House of Representatives. Look it up Steny. It's right there in the Constitution (Article I, Sec. 7). Or you can wait until the Republicans read through it in the upcoming session. You're also leaving out one other thing Steny. The debt on your watch increased from $8.67T to $13.87T, a $5.2T increase in just 4 years. It took 8 years for Reagan, working with a Democrat Congress, to do one-quarter of what you, Pelosi and Reid pissed away in four! The Republicans certainly deserve some of the blame for the rising debt, some more than others (G.W. Bush), but for the last four years, Democrats in charge have made even W. look like a penny-pincher. Hey Steny, how about being a man and taking some of the credit for what you and your colleagues in the House and Senate have done. Even better. Just shut up.
Hoyer Blames Reagan and Bushes for Deficits, Says Policies Did Nothing to Grow Economy
By Dan Joseph h/t CNS News
(CNSNews.com) - In his last day as House Majority Leader, Rep. Steny Hoyer (D-Md.) put much of the blame for America’s growing debt on past Republican administrations, including former President Ronald Reagan.
“Ronald Reagan came in and adopted an economic program that created $1.4 trillion in deficits over the next eight years,” Hoyer said in a Capitol Hill press conference on Tuesday, where he appeared with other members of the Democratic House Leadership.
“George Bush continued those policies and added another trillion dollars to the deficit," said Hoyer. "Bill Clinton came in 1993 and we adopted a PAY-GO (pay as you go) process.”
Hoyer warned that new rules that will be adopted by the incoming Republican majority in the House of Representatives will lead to an increase in the federal deficit. (The new Congress is scheduled to be sworn-in today, Jan. 5.) READ MORE HERE--->
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