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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.

 

  • MV

    Poor chart, poor presentation…poor use of statistics. If tax revenues increase after a tax cut occurs….then only a statist would claim that the tax cut ‘cost’ revenues.

    ALSO – Obama’s regulations on power generation, coal, ObamaCare – has burdened business with untold costs not shown in the charts, and has led to businesses closing up shop…some go out of business, others move off-shore to escape the high taxes and high regulations.

    The chart included Bush’s Medicare Part D costs, but somehow managed to leave off the far greater costs of ObamaCare…and the costs continue to grow!!

    OTOH – the TARP costs were repaid …except for the Obama supported GM costs, that cost the taxpayer about $30 Billion, and will never be repaid. (Funny, I didn’t see those costs put on Obama’s side.)

    AND – how much of the War on Terrorism ARE legitimate… Remember that both wars were started with BI-PARTISAN SUPPORT….so both sides bear some responsibility. Only those totally opposed to ANY efforts to attack Osama bin Laden and totally opposed to removing Saddam Hussein can claim to say that they are not responsible for those costs…but they are also saying that they are willing to surrender to terrorists and not hold terrorists responsible for attacking the US.