The Truth About the Budget Pt. 2 - The Ring Of Fire
88 views · Published 14 April 2009 · 8:43 · Indexed 20 September 2026
Channel: The Ring of Fire · 2009 · News & Politics
The GOP is up in arms over President Obama's $3.5 trillion dollar budget. Apparently they've forgotten that President Bush approved a $3 trillion dollar budget last year. The main criticism is that the increased deficit spending, which would only be about 9%, will push our country further into a recession. Again, history seems to contradict their claims. After all, Ronald Reagan operated with a 17% budget deficit, Bush Sr. worked with 11%, but Bill Clinton turned that around to less than 1% within 18 months of taking office, so these are issues that can quickly be turned around. Mike Papantonio of Air America's Ring of Fire talks with grepresentative Allyson Schwartz about the truth behind Obama's budget.
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