something like this.
But what I have also said is — don’t come to the table with the same tired arguments and worn ideas that helped to create this crisis. (Applause.) You know, all of us here — imperfect. And everything we do andeverything I do is subject to improvement. Michelle reminds me every dayhow imperfect I am. (Laughter.) So I welcome this debate. But come on, we’re not — we are not going to get relief by turning back to the very same policies that for the last eight years doubled the national debt and threw our economy into a tailspin. (Applause.)
We can’t embrace the losing formula that says only tax cuts will work for every problem we face; that ignores critical challenges like our addiction to foreign oil, or the soaring cost of health care, or fallingschools and crumbling bridges and roads and levees. I don’t care whether you’re driving a hybrid or an SUV — if you’re headed for a cliff, you’ve got to change direction. (Applause.) That’s what the American people called for in November, and that’s what we intend to deliver. (Applause.)
It is both ironic and troubling that President Obama thinks that it is tax cuts that are the same tired old policies that have failed. That's because President Obama seems to think that massive government spending and borrowing is somehow new and visionary.
In fact, it was those like then Senator Barack Obama that criticized out of control spending by then President George Bush. President Bush, in fact, engaged in much of the very same spending that President Obama now claims is the only savior of the economy. In 2005, a mostly bi partisan vote approved a $300 billion highway bill. President Bush nearly doubled the budget of the Education department after passing No Child Left Behind. The Prescription drug benefit President Bush passed also ran several hundred billion Dollars.
This sort of spending was the hallmark of the Bush administration. It lead to unprecedented deficits and endless criticism from the Democrats. Now, President Obama seems to be saying that unprecedented spending and deficits is somehow new and revolutionary. It isn't. In fact, it was this reckless spending much more than any tax cuts that were far more responsible for the situation we are in now.
If President Obama really wants to try something revolutionary, he may want to try some real across the board tax cuts along with limiting government spending. Now, that would be a revolutionary idea.