Obama: "We didn't understand how bad it was going to get"

"Uh, I didn't know! It's that guy, Bush's fault!"
"Well we're not there because this recession turned out to be a lot deeper than any of us realized," Obama says of his inability to have a policy to cut the deficit in half

"Everybody who is out there back in 2009, if you look back what their estimates were in terms of how many jobs had been lost, how bad the economy had contracted when I took office, everybody underestimated it. People thought that the economy contracted 3%. It turns it retracted close to 9%. We lost 8 million jobs just in a year's span, about half a year before I took office and half a year after I took office. So, the die had been cast, but a lot of us didn't understand at that point how bad it was going to get. That increases the deficit because less tax revenues come in, and it means that more people are getting unemployment insurance, we're helping states more so they don't lay off teachers, etc."

His most laughable, or infuriating line is this: "The key though is we're setting ourselves on a path where we can get our debt under control." Really? Really?? Four year of TRILLION dollar-plus deficits, with the coming year projected to be even higher than last year. The lowest, LOWEST deficit under this President has been $1.2 trillion. This is nearly triple George W. Bush's highest deficit, for which King Barry called him "unpatriotic". Obama's policies have increased the overall debt in three years for which it took Bush eight years.

I would say that if $450B is unpatriotic, then four years of $1.2T-plus is downright treasonous.

Posted by Brian
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