No president of the United States can create either a budget deficit or a budget surplus. All spending bills originate in the House of Representatives and all taxes are voted into law by Congress.
Democrats controlled both houses of Congress before Barack Obama became president. The deficit he inherited was created by the congressional Democrats, including Sen. Barack Obama, who did absolutely nothing to oppose the runaway spending. He was one of the biggest of the big spenders.
The last time the federal government had a budget surplus, Bill Clinton was president, so it was called “the Clinton surplus.” But Republicans controlled the House of Representatives, where all spending bills originate, for the first time in 40 years. It was also the first budget surplus in more than a quarter of a century.
The only direct power that any president has that can affect deficits and surpluses is the power to veto spending bills. President Bush did not veto enough spending bills, but Senator Obama and his fellow Democrats in control of Congress were the ones who passed the spending bills.
Friday, September 10, 2010
Dear Obama: Inherited from Whom?
Thomas Sowell: Setting the record straight on “the policies that created this mess in the first place.”
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