Business Outsider: The Deficit You've (Tea Party, Not DU!) Been Freaking Out About is Bush's Fault

[flpoljunkie]

CHART OF THE DAY: Reminder, The Deficit You're Freaking Out About Is Bush's Fault

Gregory White and Kamelia Angelova
June 28, 2010

President Obama's administration has been blamed for reckless spending that has put America into its debt hole. But in reality, much of that spending emanates from policies of President Bush, according to the Center on Budget and Policy Priorities.

They argue that Iraq, Afghanistan, and the Bush tax cuts (along with the economic downturn) are what is driving the U.S. deficit, not stimulus spending. The CBPP focuses on lower to middle income issues and may be directly involved with the Democratic Party.

The chart presents the ugly truth.




http://www.businessinsider.com/chart-of-the-day-bush-policies-deficits-2010-6

[Ernesto]

1. They got it all wrong!

It IS Clinton's fault!
:sarcasm:

[DirkGently]

2. What, not Carter's?

[DailyGrind51]

4. Along with "9/11", Katrina, the Black Plague, and the eruption of Mt. Vesuvius!

[mikekohr]

3. Reagan, Bush & Bush ran up $9.2 Trillion in debt, charts and graphs

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THE LAST 3 REPUBLICAN PRESIDENTS HAVE ACCOUNTED FOR NEARLY 100% OF OUR INCREASE IN THE NATIONAL DEBT SINCE 1981

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Every President, from Truman to Carter, steadily paid down the staggering debt that was run up in our fight against Nazi Germany and Imperial Japan. That pattern came to a screeching halt with Reagan/Bush and Bush. Clinton’s fiscal policy was a brief respite during this orgy of deficit spending.

Clinton balanced 5 budgets, which is 5 times as many balanced budgets as the last 5 Republican presidents combined.


President Obama, like President Clinton, inherited a sea of red ink and a recession from his predecessor. He, like President Clinton, recognizes the importance of getting America back to work and then getting our fiscal house in order.


See National Debt Graph @: http://zfacts.com/p/318.html


WHY DO REPUBLICAN ECONOMIC PRINCIPLES EXPAND THE NATIONAL DEBT?
-The answer is simple mathematics. Reduced revenue + increased spending ='s increased debt-


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(click to enlarge)
http://cedarcomm.com/~stevelm1/usdebt.htm

The two biggest promises of "Trickle Down Economics" are it's greatest failings. Proponents of "Trickle Down Economics” claim that tax cuts, skewed to the rich, will create jobs and increase tax revenues. The graph above disproves the latter claim. Job creation plummets under "Trickle Down Economics (see http://bureaucountydems.blogspot.com/p/job-growth.html )and nine of the last ten recessions have occurred under Republican leadership (see http://bureaucountydems.blogspot.com/p/history-of-recessions.html ).

Two things are certain to grow when a Republican is in the White House, unemployment and the National Debt.


By contrast, "Bubble Up" economnic priciples practiced by Democratic Administrations put people to work, rev up the economy, and balance the Nation's ledger books. Every time. No exceptions.


mike kohr
Bureau County Democrats
http://bureaucountydems.blogspot.com/p/national-debt.html