The common view of the economy as the fault of the president is short sighted. The truth is that all spending must originate in the House of Representatives. If the House decides to adopt the President’s budget then the President has something to do with it. But if the House does not adopt the President’s budget or priorities, then the President really has no part to play.
Nancy Pelosi became speaker of the House for the 2007 session. That’s when spending and deficits went hog wild. And that’s the truth.
Too many reporters try to look at the issue in terms of who occupies the Oval Office, and this view of it overlooks the fact that all federal budget items must originate in the US House. The Rs took over the US House in January of 1995 and they held the majority until January of 2007. For four straight years starting in 1998 the US federal government had budget surplusses instead of budget deficit. In six of the other eight years of Republican majority House rule we have smaller budget deficits than any annual budget deficit from 1982 thru 1993 when the Ds were in the majority in the US House. Now when the Ds took over the majority in the US House some new budget deficit records were set. Three straight years of 2008 thru 2010 are higher federal budget deficits than this country has ever seen.Read more at www.redstate.com