Obama Vs. Bush On The Deficit In One Simple Graph

Submitted by Dan Weymouth

Alan posted the National debt chart yesterday. Here is another chart that shows Bush vs. Obama on the issue of debt, via Ezra Klein.

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.

 

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