Elvira Goddess presents Republican Lies! 1) President Obama tripled the deficit. Reality: Bush's last budget had a .416 trillion deficit. Obama's first budget reduced that to .29 trillion. 2) President Obama raised taxes, which hurt the economy. Reality: Obama cut taxes. 40% of the "stimulus" was wasted on tax cuts which only create debt, which is why it was so much less effective than it could have been. 3) President Obama bailed out the banks. Reality: While many people conflate the "stimulus" with the bank bailouts, the bank bailouts were requested by President Bush and his Treasury Secretary, former Goldman Sachs CEO Henry Paulson. (Paulson also wanted the bailouts to be "non-reviewable by any court or any agency.") The bailouts passed and began before the 2008 election of President Obama. 4) The stimulus didn't work. Reality: The stimulus worked, but was not enough. In fact, according to the Congressional Budget Office, the stimulus raised employment by between 1.4 million and 3.3 million jobs. 5) Businesses will hire if they get tax cuts. Reality: A business hires the right number of employees to meet demand. Having extra cash does not cause a business to hire, but a business that has a demand for what it does will find the money to hire. Businesses want customers, not tax cuts. 6) Health care reform costs trillion. Reality: The health care reform reduces government deficits by 8 billion. 7) Social Security is a Ponzi scheme, is "going broke," people live ...
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