What Has Created the Deficit?

I’ll Give You a Hint. It Wasn’t TARP!

 

Below is an interesting graph that comes from the non-partisan Center on Budget and Policy Priorities. Based on information from the Congressional Budget office it is a very telling chart. Again, I’m not sure why every Democrat does not have this chart printed on T-Shirts. It turns out all the balderdash about the Obama Administration drowning our economy in an ocean of debt is just that, balderdash! It turns out that the Bush Era Tax Cuts, the unpaid for wars in Iraq and Afghanistan and the economic downturn that took place under George W. Bush’s watchful eye account for the biggest part of the budget deficit. The part attributable to Obama? Well that accounts for about 10% and has mostly stabilized. That part of the debt that is left over has actually been going down under the Obama Administration.

(Click the chart to go to the CBPP website)

 

 

 

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