Walgreens Boots Alliance Inc (WBA)

[big-yank]

The Bush tax cuts of 2001 and 2003 reduced revenue intake by $550 billion per year. When employment collapsed during the recssion, further tax intake was hammered and spending initiatives like TARP and bailouts, plus infrastructure spending absolutely created an enhanced deficit... more spending than revenue.

Yes, Bush had a budget. It was a budget that had no spending category for the wars in Iraq and Afghanistan. Trillions in spending were conveniently "overlooked" until Obama came to town and inherited this mess.

I am not a huge pro-Obama type and I think he bears as much responsibility for the gridlock in Washington as do McConnell and Boehner, but it is simply inaccurate to make hime the primary scapegoat for all that is wrong in America. I am actually of the revised opinion that the Sequestration may be a painful but eventually positive outcome, if it occurs, for two reasons. First, it will force cuts of some kind, any kind and THAT is at least a wake-up call on uncontrolled spending. Second, it will put political focus on "the beneficiaries" of the Sequestration cuts and the huge, likely outpouring of disdain for Congressa that will ensue and be felt on both sides of the aisle at midterm election time. All these "entitlement" spongers that are clearly the target of SSA, Medicare and Medicaid cuts vote, and vote they will.

Interesting dynamic, worth following and certainly worth vigorously discussing.

GLTA,

Yank