Letter: We’re learning deficits really matter
Saturday, August 20, 2011
Glen Durden’s Aug. 11 letter, “New vision called for to face reality,” is spot-on in many ways, with one glaring exception regarding his claim that “Barack Obama is probably the least competent president that we have had in [Durden’s] lifetime.” Less than a dozen years ago our nation had its debt under control and was sitting on a financial surplus.
I would say the least competent president in recent history is George W. Bush, the one who almost instantly turned that surplus into another ever-higher historic debt, started needless wars which tarnished America’s image worldwide, and ran our economy into shambles, leaving us — according to the government’s own records — well on the way to trillion-dollar deficits before Obama took office. I recall how that president’s second in command boasted that “Reagan proved deficits don’t matter,” but guess what, apparently they do.