Once again, President Obama blamed Bush and the situation in Europe for his own failures.
Reuters reports that the President told attendees at a $15,000 per family fundraiser Monday that he inherited many of the problems he now faces from the previous administration.
It is true that he inherited the war on terror, but he also inherited a AAA credit rating. Thanks to his own reckless spending, however, he racked up more debt than the first 40 Presidents combined, and the U.S. lost its stellar credit rating.
"We do have a serious problem in terms of debt and deficit, and much of it I inherited," he said, ignoring his own record deficit spending.
Reuters reported:
Obama noted that the United States had seen 17 months of consecutive private-sector job growth, rising corporate profits and stabilized credit markets under his watch.
That claim, however, should be accepted with a Texas-sized grain of salt.
Under Obama - now the second worse jobs President since 1890 - unemployment is nearly twice that of Mexico, and the markets are anything but stable. If this is Obama's idea of "stable," one would hate to see what he thinks is "unstable."
"What's absolutely true, even before these last couple days in the stock market, is that recovery wasn't happening fast enough," Obama said.
"When you have problems in Europe and in Spain and in Italy and in Greece, those problems wash over into our shores," he added, blaming turmoil in Europe for his own failed policies.
Obama did give voters a preview of the debate he says will frame the 2012 election.
"What we're going to have is 16 months in which we debate this vision for America, and it's going to be as fundamental a debate as 2008," he told the 140 attendees at the fundraiser.
"In some ways it may be even a more profound debate because the contrast is going to be clear and it's going to be sharp."
In that, the President is correct.
Republicans have passed a measure - "Cut, Cap and Balance" - that would not only have prevented a default, it would have prevented a downgrade. The President vowed he would veto it, but Senate Democrats killed the measure.
Not only did S&P downgrade America's credit rating to AA+, it downgraded the credit rating of Freddie Mac and Fannie Mae - affecting the mortgages of millions of Americans.
Todd Winer, Communications Director for Congresswoman Cathy McMorris Rodgers (R-WA), said that downgrade is another powerful example that bailouts don't work, and that instead of throwing money at the problem, structural reforms are needed at both agencies. House Republicans, he said, have introduced several bills to do exactly that.
Since taking office in 2009, Obama has done practically nothing but blame George Bush and others for his own mismanagement.
On Monday, radio talk show host Rush Limbaugh read six pages of headlines showing Obama's constant blame-shifting:
RUSH: Let me count the pages here. One, two, three, four, five, six pages -- six pages -- of news headlines and stories.
Obama Blames Arab Spring and Japan's Earthquake on Struggling Economy and Job Situation, August 5th, 2011. Obama Blames Messy Democracy for His Failed Policies, August 3rd, 2011; remarks by the president at a DNC event. Obama Blames Congress for US Debt Mess; Obama news conference, June 29th, 2011. Obama Blames Republicans for Slow Pace on Immigration Reform, July 25th, 2011. (This was page one.) Page two: Obama Blames Media for Lack of Compromise in Washington; remarks by Obama at a town hall meeting July 22nd, 2011. Obama Blames Technology for Struggling Economy; June 14th, 2011, NBC Today interview. Obama Blames Oil Spectators for High Oil Prices; April 19th, 2011, remarks by Obama at a town hall meeting.
Obama Blames Reagan for America's Out of Control Debt and Spending; remarks by President Obama April 13th, 2011, Federal News Service. Obama Blames Bush and Congress for Lack of Fiscal Discipline, April 13th, 2011; remarks by Obama, Federal News Service. Obama Blames Bush-Congress for Putting Off Tough Decisions, August 17th, 2010; remarks at a fundraiser for Patty Murray. Obama Blames Bush for Tax Cuts, Deficits; Obama town hall meeting on the economy in Racine, Wisconsin, June 30th, 2010. Obama Blames Bush for Deficits, June 8th, 2010; remarks by Obama at a second fundraising reception for Senator Barbara Boxer.
It's the same tired, old playbook the Democrats have used for years: Raise taxes, spend like there's no tomorrow, and blame Bush for their own failures.
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