As a preword, I don't really look into what political spectrum I 'am', I just have ideologies. I believe in the signing of the Socratic social contract as a citizen, in that the U.S. has given me shelter and I feel the need to support the country no matter who holds office, unless they're truly corrupt and are intent on literally killing people. I wouldn't follow Hitler, and I really don't support Bush or Obama, especially in the war aspect, but I hold on and support the country so we can carry on.
Also i'm sorry, I write a little sensationally. I can't help it, i've written for newspapers before.
Commander in Chief, President Barack Obama surfed into office at the greatest time possible. Well, as we and he all thought was the greatest time possible. Bush, being one of our lowest approved Presidents of all time, exited the White House as quietly as possible. During this time, he left behind the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. These two acts, which came into law very, very quickly, changed the Internal Revenue Code, as run by the ever loved Internal Revenue Service, into reducing taxes for all earner-classes of citizens, bourgeoisie or proletariat, Oprah's free-cars-for-everyone style.
This basically hurt the upper class, especially the top 10% of earners. (Please don't fall into the 'oh my god 1% shit' trap, this is true.) The literal top 1% of earners weren't hurt very much by the tax cuts, but the middle class, usually comprised of Democratic voters and non-voters, felt this relief because it meant that they could bring home more money to survive off of. "Who doesn't like to get more money back each paycheck?" Fat King Bush thought, as he watched the country unsettle itself. Most people forget, however, that the government is tax-driven. The state (most states) are tax driven. Without the Gov't collecting these hard, heavy taxes, the spending gap between money earned by the Gov't and money spent in their day-to-day affairs grows wider. Most people see the deficit as why America is 'going downhill.' Along with our very expensive war in countries that don't need invading, this creates economic downturn. Bush, and his administration, still believed the fairy tale of the trickle down theory, in which giving the rich money means they will create new work. Everyone has more money but the government has less and less, and begin cutting things in an effort to save money. Which unemployed people, who are now unhappy that they aren't getting their bigger paycheck, which hurts the country as they basically stop paying income tax until new work is found. With that work closed off, they go search for other work, which isn't being created by the highly upper class.
Of course, however, these tax laws expire. Eventually.
Except Obama, as of Jan 1st, reinstated them for the first $250,000 USD earned by each household.
On the day they expired. It baffles me how so many people have not heard of this. Don't believe me? It sounds a little Republican "eye hate that damn monkey fer stealin' mah jobs n money". But, here it is
right from the mouth of the political machine. Congress did not present a bill to reinstate them, shockingly, and Obama drew this up. The part in question starts on page 6 and ends on 15.
But that's a little recent. Let's take a step back and answer the actual question. I just got caught up on the Bush Tax Cuts in the explanation set up.
So Barack Obama is elected into the office on the process of Hope and Change and college student and african-american votes. From this, he is well aware that the Bush Tax Cuts will end. From this, as well as promising to end the war in Afghanistan (which he did for the most part), Obama is pretty well off in office. Granted, many people will just hate him because he is A) Black, B) A Democrat, C) "A Muslim", or D) They just don't know what the fuck is actually going on in politics in this day and age. This describes your typical right-wing, uninformed mass. President Obama created the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, a little before having served a year of holding office. In layman's terms, this changes the tax cuts around a little. The middle class, especially those with households or unmarried women, get a much bigger tax break, and it tightens the cuts around the upper class, from I believe 25% of earners and up. Which is good. People who can't pay great taxes and still have enough to keep surviving to actually
pay taxes are allowed breathing room. I myself have even benefited from it when I achieved a full time job.
President Obama passed this on the grounds that he couldn't just have Congress just end the bush tax cuts. People would snap, the rich would snap for having to pay taxes, it just couldn't be approved. Something
had to be done, and this act overrules part of the Bush-era tax cuts acts. This actually won some lower-middle class Republican views in favor of our Commander in Chief.
But this in itself didn't lower the deficit. Which, logically, of course it didn't. It just adjusted the scales, very carefully, to where the Gov't would only be getting a LITTLE bit more money from taxes. Most Americans see the deficit as god-send evil and must be destroyed by voting out this party and voting in the alternative until the alternative party 'screws it up' and votes in the alternative. The Government spends money. It literally cannot help it any longer, (without the use of great, house-congress-president approved law,) with the massive bureaucratic divisions it has split into. And, by earning less money because the Congress won't just throw out the Bush tax cuts, the deficit continues. The war has quieted greatly, but the after effects of spending still keep rolling on.
People typically blame Obama for this, which I think is just generally dumb. The President of the United States of America is always, always someone who is feeling the burn of their predecessor and expected to carry the weight of what they have done and make things better. When this doesn't happen, which it won't until we as Americans learn to start choosing the Congress and House carefully, we hate the President. To the American who just doesn't get that it's more than their fault, they are evil and must be shot. Yes, I blame Bush and everyone around him for starting a war that didn't need to be started and searching for WMD's when there weren't any, but what's done is done. The Clinton era prosperity would have actually continued if the war hadn't been started. Life under Bush's rule was actually passable before the war. However, this won't change anything anyway. The country is growing. Our population is still skyrocketing. The Government can't help but spend to fix these things, and these new people won't be paying taxes for a while.
tl;dr: The Congress is typically at fault, as well as ourselves for not choosing them better. The country will always be spending money, and a lot of it is actually Bush's overflow onto Obama. Yes, he could be doing more, but such radical changes will be stopped unless the House of Representatives changes from Republican to Democrat favor.