Friday, August 27, 2010

Republican Lies About the Federal Bailout and Debt

It's astonishing that Republicans and their talking heads keep saying Obama and Timothy Geithner are running us into "bailout" debt when this article shows that the Bailout is actually making money for taxpayers at a whopping 15.5% interest: Public-Private Investment Program Reaping Rewards - The fact is that more investment stimulus will boost our economy and continue to pull us out of recession, but these are things the Republicans vote against 100% of the time. They would rather America fail for the sake of their own agenda.

They, the Republicans, also keep saying the new Healthcare program will cause more federal debt, yet here (pdf) is a letter to Idaho U. S. Senator Mike Crapo, a Republican, from the Congressional Budget Office saying it will actually reduce the deficit. Senator Crapo wanted proof that the healthcare program would increase the deficit so he could be "enraged" about it, but the CBO said the opposite instead. It's interesting that the Joint Committee on Taxation, a subcommittee of the House Ways and Means Committee, made up of both Democrats and Republican staffers, supports the CBO in its conclusion that the healthcare program will reduce the deficit. It seems to me that the Senator's name says it all, "crapo."

The true cause of the federal deficit from all that I can find are two things: 1) the cost of the two wars in Iraq and Afghanistan, both started by President Bush's hyper-extended Administration, and 2) the 2001 Bush Tax Cuts that will expire at the end of this year, 2010. The Republicans are determined to keep the wars going and to extend the tax cuts for the rich. In fact, those are the only congressional bills that the Republicans will vote for.

It sure is strange in this world where all logic is turned on its head that people clip that bull ring in their nose and follow the Republican lies about the deficit, wars and tax cuts. If people are willing to follow them to the slaughter house on those issues, what else are they willing to follow? But, they've already answered that question with other lies: the total destruction of the Constitution and the Government. It makes your head spin.


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