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  • coughingredink coughingredink Jan 8, 2013 3:32 PM Flag

    Deficits

    Let’s try some accurate current dollar data from the Tax Policy Center, shall we?

    Bush:
    2000 – outlays were 18.2% of GDP at 1.789 trillion with a surplus of 236 billion
    2008 - outlays were 20.8% of GDP at 2.982 trillion (including 760 billion for TARP, which was approved by both Obama and McCain) and a deficit of 458 billion

    [Note that in 2007, despite the Bush tax cuts, two unfunded wars, and the unfunded drug program the deficit was only 161 billion based on ALL TIME RECORD receipts of 2.568 trillion and outlays of 2.729 trillion. Gosh, how oh how did we ever achive record receipts with that mean old Bush tax cut????]

    Obama:
    2009 – outlays were 25.2% of GDP at 3.517 trillion with a deficit of 1.412 trillion
    2012 - outlays est. at 24.3% of GDP at 3.796 trillion with a deficit of 1.327 trillion

    Now, using simple math, Obama is spending at a rate approx. 27% higher than Bush in his last year, which included and extra 760 billion for TARP. Just repeating Bush’s last year of spending including TARP would result in a deficit of just +500 billion versus the 1.327 trillion Obama is building up.

    Oh, let’s look at deficits! Under Bush, the cumulative deficit was (1.740) trillion for 8 years, and under Obama it is (5.332) trillion for 4 years.

    Progressives can spin and run, but they cannot hide from the data! Go ahead and keep blindly supporting your progressive masters as your standard of living drops to that of a Scandinavian country.

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