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>Peter Peterson: GOP And Dems Hurt America

>Democrats and Republicans Hurt America
Posted by Don White on Monday, June 02, 2008 2:44:14 PM

Former New York Fed official and Chairman of the Council on Foreign Relations Peter G. Peterson blames both parties for America’s financial mess, but particularly George W. Bush.

In his book Running on Empty, conservative chairman of the Blackstone Group points to the fact that when Bush came to Washington the US had a $5.2 trillion-dollar surplus. By 2004 when his book came out we had reversed it and had that much in deficit and four years later it’s probably skied to $12-15 trillion dollars.

It’s so bad we’ve gone to borrowing money–unofficially, of course, from our arch enemy the Chinese. They are laughing all the way to the bank while we suffer with a weak dollar and $4-dollar gas prices at the pumps which surely will double before it comes down.

Meanwhile, what is the Democratic Congress doing? Nothing. Absolutely nothing, except criticizing Bush and laying the blame for our financial mess on his administration. Do they understand that much of the dollar drain is due to the war that is keeping us safe? Do they count the devasting effects of 9/11 and the housing recession–and now the oil speculation? No, they don’t. But neither do they have any answers. It’s better for Democrats to have a Republican president in the White House. Otherwise, who’re they going to blame. They thrive on the “blame game.” Financial messes hurt the poor and help the Demos.

It keeps the illiterate poor coming to the voting booths to vote for these left wing liberals who have never done any good for America.

But the Republicans are no better. They had their chance and dropped the ball. If we have Demos in office it is, to some degree, the fault of dishonest and ineffective Republicans. Now that’s quite a statement. One that a conservative like me shouldn’t make, but it’s true. When will America wake up and start voting these moderate and liberal Republicans out of office–along with the Democratic counterparts.

Though Congress has no answers, Russia does. They recently lowered taxes on “rich” oil companies with one provision and challenge. They can receive $4 billion in tax cuts, but they must find ways to deliver cheaper oil and gas to the Ruski consumers. Now what didn’t Democrats think of that? It’s not an original idea. We’ve long known that you don’t stop the financial bleeding by taxing the rich. If you do you make things worse, because they’re the very people who create jobs with their surplus money. And lately, our oil companies haven’t had any excess money–sounds ridiculous, doesn’t it, given the huge oil prices they’re getting. But it’s true. Our oil people haven’t had money to invest in plant and equipment for years. That’s why all our refineries are 50 years old and inefficient.

Get real, Democrats. Get off George Bush’s case. Part of our economic woes derive from the war in Iraq, a war that is helping us remain free from terrorist attacks. Or haven’t you noticed, Dems, we haven’t had another 9/11 in America for 7 years and won’t have as long as we are fighting the Arabs on their turf. That war costs us $12 billion a month. Why wasn’t Bush smart enough to charge it all off to the Iraqis? Remember, oil? That was supposed to have been the reason Bush invaded Saddam Husein’s Republican Guard. To get at the oil. We not only didn’t get the oil, we’re left holding the bag for now protecting those people when we should be charging back all costs of our Military from 2003 forward.

Yes, we also had 9/11 and the worst housing recession in 50 years, not to mention the current gas crunch–$4.00 gas at the pumps that’s sure to hit six before summer’s out when I expect prices to fall to or slightly below $4.00 but never below that.