"The Deficit Is Not Default of Obama"

An editorial at truth-out.org sets out several reasons why the cause of the national deficit was more caused by Republican fiscal policy rather than Obama's presidency.

Greg Palast states in the editorial,

From 2001 to 2008, a Republican president took an annual surplus of $86 billion left for him by Bill Clinton and ran up the budget deficit to over half a trillion in a year ($642 billion in 2008). Altogether, George W. Bush blew up the national debt by over $3 TRILLION - then left the bills to Barack Obama.

Palast points out that Republicans like Congressman Eric Cantor voted to spend billions of dollars under President Bush, but now refuse to pay what they authorized to spend: "Congressman Cantor, the guy leading the Republicans' refusal to lift the debt ceiling, voted for the V-class sub as well as Bush's bogus scavenger hunt for weapons of mass destruction in Iraq. But now Cantor doesn't want to pay the bill."

Palast continues: "Ultimately, 'default' is not the issue. 'Default,' dear Brutus, is not in our stars, but in that age-old battle between Them and Us. They spent the money and now they want Us to pay."

Read the entire article here: EXCLUSIVE: The Deficit Is Not Default of Obama