Keith Olbermann made a semi-career on MSNBC criticizing the last administration for its deficits. The Bush presidency did not do a good job of controlling federal spending. At the end of the Bush administration Olbermann had lots of criticism about Bush's profligacy with spending to create a deficit that amounted to 5% of the GDP. In the last several months federal receipts have dropped from their historic levels of 18-20% to 15%. But according to the Congressional Budget Office the first Obama Administration budget is 13% of GDP, even by allowing for the decline in revenues, that is some kind of record. If Olbermann were not a hypocrite he might raise a question about those levels. When do you expect him to do that? Will it before or after hell freezes over?
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Here's the thing. Our current financial crisis began during the Bush administration. The bail outs (banks and auto industry), began during the Bush administration. I am waiting to see what Obama's administration is going to do to repair the economy. If Bush were still in office, I think he would likely take similar steps to the ones Obama has taken so far- with the depth of our crisis comes a lack of options. (I am sure you will disagree). How do you think things would be different if W had been faced with our current situation? I think THAT is what you, me, and Keith Olbermann need to consider.
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