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Showing Original Post only (View all)Obama: Debt, deficits were 'baked into the cake' [View all]
Source: Politico
Obama: Debt, deficits were 'baked into the cake'
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"We signed two trillion dollars in spending cuts into law," Obama said. "Spending under my administration has grown more slowly than under any president in 60 years."
Obama said that the country's budget deficits and big debt were the result of the George W. Bush's two tax cuts, as well as the Iraq and Afghanistan wars.
"They baked all this stuff into the cake with those tax cuts... and the war," Obama said.
"It's like somebody goes to a restaurant, orders a big steak dinner, a martini and all that stuff, then just as you're sitting down they leave and accuse you of running up the tab," Obama said.
Read more: http://www.politico.com/politico44/2012/06/obama-debt-deficits-were-baked-into-the-cake-125978.html