But There Are No Savings

At Reason “Why Elizabeth Warren Wants America to Be More Like Communist China“:

On July 27, the same day Warren announced her new ad, Mr. Obama, campaigning in Virginia, said, “I think it makes sense for us to take half the savings from war and let’s use it to do some nation-building here at home. …”

There are no savings from the war to take half of.  One of the few areas in which I agree with President Obama and the watermelon brigade that backs him is that both the Iraq and Afghanistan wars were not paid for as we fought them – taxes were either left as-is or cut; new loopholes added; fewer people paid them.  Revenue decreased during these wars.  There are no savings from the war to take half of.

While Reason’s issue with Warren is the spending model she’s identifying as ‘ideal’ my complaint is with Obama – this is one more point that makes clear that he has no understanding of the depth of the fiscal hole we were in in 2008 and how much worse it is now.

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