By Eric Zanzucchi (@ericzanzucchi)
An author for Fox News recently published an article claiming that if America were run like a business, reelecting Obama would be bad business. He does point out some of Obama’s downfalls, although I don’t think Democrats would claim that Obama is perfect. However there’s at least one glaring flaw I found in his argument. The author stated that:
“By the end of next year, the debt you accumulated since you took office is projected to exceed the amount of 43 of your predecessors.”
However, National Debt is usually a carryover from the previous presidency. George W. Bush had a $500 billion annual surplus during the first few years of his presidency, which was a result of Clinton’s economic policy. Clinton turned an annual debt into an annual surplus over his eight years. Bush started two wars and made tax cuts that turned an annual surplus into an annual debt over his presidency. Who’s to say that if Obama had four more years he couldn’t turn the debt situation around? He’s certainly more fiscally responsible than Bush.
As for Romney, despite anything he says now he’s still campaigning. His true fiscal responsibility as a president remains an unknown.
If our country were a business I would argue that we shouldn’t fire Obama at this time because businesses thrive on continuity. Similarly, 2nd term presidents usually get a lot more accomplished because reelection is not a concern, legacy is.