--- title: "Meaning & Key Takeaway of: So the Bush-Obama administration has…" description: "\"So the Bush-Obama administration has taken a fiscal stance diametrically opposed to that of the patron saint of free enterprise. While escalating war i..." image: "https://sms4smile.com/quotes/i/a2a/michael-hudson-2134_administration_so-the-bush-obama-administration-has-tak_1084344.png" --- # So the Bush-Obama administration has taken a fiscal stance… ![“So the Bush-Obama administration has taken a fiscal stance diametrically opposed to that of the patron saint of free enterprise. While escalating war in Afghanistan and maintaining over 850 military bases around the world, the administration has run up the national debt that Smith decried. By…” quote by Michael Hudson](https://sms4smile.com/quotes/i/a2a/michael-hudson-2134_administration_so-the-bush-obama-administration-has-tak_1084344.png) [Download](https://sms4smile.com/quotes/i/a2a/michael-hudson-2134_administration_so-the-bush-obama-administration-has-tak_1084344.png) [Open image](https://sms4smile.com/quotes/i/a2a/michael-hudson-2134_administration_so-the-bush-obama-administration-has-tak_1084344.png) > “So the Bush-Obama administration has taken a fiscal stance diametrically opposed to that of the patron saint of free enterprise. While escalating war in Afghanistan and maintaining over 850 military bases around the world, the administration has run up the national debt that Smith decried. By shifting the tax burden off property and off rent-seeking monopolies - above all, off the financial sector - this policy has raised America's cost of living and doing business, thereby undercutting its competitive power and running up larger and larger foreign debt.” [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The administration’s fiscal policies increase debt and cost of living, weakening competitiveness despite military spending and tax shifts away from finance. **In simple terms:** Policies raise debt and costs, hurting competitiveness. Key Takeaway Reassess tax and spending priorities. Themes economics government competitiveness debt tax policy Mood critical analytical Type political economic analytical When to use this quote - budget planning - business strategy - policy analysis - public debate Key Concepts Fiscal policy public debt economic competitiveness Questions to Reflect On - How do tax shifts affect economic inequality? - What alternatives could reduce debt without harming growth? A Different Perspective Policy may boost short‑term revenue but can harm long‑term growth. ★ ★ ★ ★ ★ No ratings yet [Administration](https://sms4smile.com/quotes/about/administration/) [Afghanistan](https://sms4smile.com/quotes/about/afghanistan/) [America](https://sms4smile.com/quotes/about/america/) [Around the world](https://sms4smile.com/quotes/about/around-the-world/) [Burden](https://sms4smile.com/quotes/about/burden/) [Business](https://sms4smile.com/quotes/about/business/) [Cost of living](https://sms4smile.com/quotes/about/cost-of-living/) [Enterprise](https://sms4smile.com/quotes/about/enterprise/) [Escalating](https://sms4smile.com/quotes/about/escalating/) [Free enterprise](https://sms4smile.com/quotes/about/free-enterprise/) [Management](https://sms4smile.com/quotes/about/management/) [Military](https://sms4smile.com/quotes/about/military/) [Military bases](https://sms4smile.com/quotes/about/military-bases/) [Monopoly](https://sms4smile.com/quotes/about/monopoly/) [National debt](https://sms4smile.com/quotes/about/national-debt/) [Property](https://sms4smile.com/quotes/about/property/) [Running](https://sms4smile.com/quotes/about/running/) [Saint](https://sms4smile.com/quotes/about/saint/) [Tax burden](https://sms4smile.com/quotes/about/tax-burden/) [Taxes](https://sms4smile.com/quotes/about/taxes/) [War](https://sms4smile.com/quotes/about/war/) [World](https://sms4smile.com/quotes/about/world/) ## Related quotes > [Actually, high housing prices don't help the economy. 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