"Obama Takes Jab At Bush Policies: ‘A Surplus Became An Excuse To Transfer Wealth To The Wealthy’"
In his speech before a joint session of Congress tonight, President Obama took a jab at Bush’s disastrous economic policies:
[W]e have lived through an era where too often, short-term gains were prized over long-term prosperity; where we failed to look beyond the next payment, the next quarter, or the next election. A surplus became an excuse to transfer wealth to the wealthy instead of an opportunity to invest in our future. Regulations were gutted for the sake of a quick profit at the expense of a healthy market.
Read the text of the full speech here.
I suffer no illusions that this will be an easy process. Once again, it will be hard. But I also know that nearly a century after Teddy Roosevelt first called for reform, the cost of our health care has weighed down our economy and our conscience long enough. So let there be no doubt: health care reform cannot wait, it must not wait, and it will not wait another year.
More in today’s Progress Report on the Bush deficit.