Sept. 3: Governor Markell (D-NJ) said the President “wants to invest in infrastructure, put people to work today on things that can make a difference and put people to work over a long period of time.”
Neil Cavuto said “But what are we investing with? Normally when you invest, you have money to invest; we don’t have money.”
Governor Markell responded, “No, but the point is…these are long term investments, and sometimes when you are building a house or building a road you have to borrow to make those investments.”
When the Democrats took over majorities in the House and Senate in 2007, their budgets reversed the 4 year trend of decreased deficit spending. Until their last budget, 2009.Obama’s “inherited” financial crisis?
Senate Democrat leaders blocked House Republican jobs and budget bills from discussion or votes in 2011-12. Over the last 31/2 years we have had the income to cover only two-thirds of what we spend. Since the Democrats took complete control of the federal government the year the recession ended, 2009, they’ve added over $5 trillion dollars to the debt. We are paying $10 billion dollars a day in interest alone.
President Obama’s budgets proposed so much increased spending that they either could not find a sponsor in Congress or the budgets did not receive one vote from either party. Face it, to borrow more money with our current debt and budget, we are going to need a subprime loan.
Susen Trail, Athens