Barack Obama has pointed out to journalists that “it wasn’t under me that we started buying a bunch of shares of banks. It wasn’t on my watch. And it wasn’t on my watch that we passed a massive new entitlement -– the prescription drug plan — without a source of funding.” As Micheal Tanner of Cato puts it “He Has a Point.” Many Republicans in Congress, as well as some conservative commentators like Rush Limbaugh, have been extremely hypocritical in attacking spending now that Obama is in power and not causing a stir when Bush was in charge.
This does not excuse the bad behavior. If big spending was bad when Bush was in power, big spending is bad now. In many ways, the Democrats often sound like two kids quarreling tattling “He started it” to excuse bad behavior.