View Single Post
Old 08-23-2011, 09:28 PM   #1
SinncmxM

Join Date
Oct 2005
Posts
448
Senior Member
Default Obama’s and Bush’s effects on the deficit in one graph
oh the truth - http://www.washingtonpost.com/blogs/...OrYI_blog.html

Click on the link for the graph.

What’s also important, but not evident, on this chart is that Obama’s major expenses were temporary — the stimulus is over now — while Bush’s were, effectively, recurring. The Bush tax cuts didn’t just lower revenue for 10 years. It’s clear now that they lowered it indefinitely, which means this chart is understating their true cost. Similarly, the Medicare drug benefit is costing money on perpetuity, not just for two or three years. And Boehner, Ryan and others voted for these laws and, in some cases, helped to craft and pass them.

To relate this specifically to the debt-ceiling debate, we’re not raising the debt ceiling because of the new policies passed in the past two years. We’re raising the debt ceiling because of the accumulated effect of policies passed in recent decades, many of them under Republicans. It’s convenient for whichever side isn’t in power, or wasn’t recently in power, to blame the debt ceiling on the other party. But it isn’t true
SinncmxM is offline


 

All times are GMT +1. The time now is 07:20 AM.
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd.
Design & Developed by Amodity.com
Copyright© Amodity