Schumer: Republicans' Flip-Flops Prove They Want To Hurt Economy

In order to keep their neo-con base, Bush and Cheney did not go back and cancel the tax cuts to pay for the new wars. They knew that the wars would have to be financed with deficit spending.

So, you have two unfinanced wars, combined with a sharp revenue decrease due to the housing bubble induced recession.

Our national debt has ballooned because of new committmen­ts (wars) and lowered revenue (recession­.) It is irresponsi­ble to think of balancing the budget without increasing revenue

In my humble opinion, this administra­tion will not let this country default on its loans and it will not let Republican­s wipe their feet on the backs of middle and lower income Americans. President Obama has proven his grit and he knows where Americans stand.....­at his back.



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