The Obama campaign’s heroic lack of self-awareness

Posted on May 15, 2012

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In a display of truly heroic lack of self-awareness, the Obama campaign has been claiming that Romney’s proposed tax cuts will add $5 Trillion to the national debt.  Yes, the man that has added more than $5 Trillion to the debt while still in his first term is telling you not to vote for Romney because he thinks Romney will add $5 Trillion to the debt.  It’s truly a wonder to behold.

And besides the open-handed, slap-you-full-on-square-in-the-middle-of-your-face irony, there’s also the lack the economic understanding.  If tax cuts add so much to the debt, somebody should tell that to the biggest tax-cutters of the 20th century, Warren Harding and Calvin Coolidge.  During the Harding/Coolidge Administrations was the last time the national debt consistently decreased.

Despite what we commonly hear, the debt increased every year under Clinton.  They technically balanced the budget for a few years, but that was by not including things in the budgets.  The national debt deceased a few time in the 40’s and 50’s (56, 55, 50, 47, 46), but it decreased every single year under Harding and Coolidge – from $22.9 Billion in 1921 to $16.9 Billion in 1929.

Harding and Coolidge cut the top tax rate from 70% to 25%.  So….I guess my point is that Obama is dumb.

Data here

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