On President Obama’s blaming his deficits on President Bush, saying his predecessor had a steak and martini dinner, got up and stuck him with a bill:
The problem with the president’s analogy about the restaurant: He left out where he sits down and orders steak and martinis for the next thousand days and sends [us] the bill.
If you look at the debt publicly held debt, on day he took office — that is the accumulated debt that you and I and all the bondholders up to the government of China hold that we have accumulated for the 230 years of this republic — it was under $6.5 trillion. Today it’s $11 trillion. He has added in three-and-a- half years $4.5 trillion. He has increased our debt by 70 percent in three-and-a-half years.
And the idea that [the Obama deficits] were “baked in the cake” and “structural” is complete nonsense. One war is over. And the other war, the good war, the one he likes, he doubled our expenditures — [and] it will be over in a couple of years anyway. [Yet] he has a deficit, he projects, in the future increasing by $8 trillion [over] the next decade. I think on every count the numbers are false. And I think Americans sense that.
There is a kind of psychological statute of limitations on whining.