To Whom Do We Owe This Debt Of Gratitude?

While George Bush was busy trying to recall why he shat his pants during the 9/11 attacks, perhaps he should have been explaining how he turned Clinton’s surplus into a record deficit.  This NY Times opinion piece  contains a chart that gives a clear breakdown of the costs.  Contrary to what some in Congress would have you believe, the big bad health care reform plan is not the problem.  In fact, it is the smallest cost in the chart.  The biggest?  Yup, you guessed it, the Bush Tax Cuts…bigger than all of Obama’s costs and projected costs combined!  Cutting health care, education and other domestic spending will not solve the problem…..”you can’t close the door, when the wall’s caved in” or sumpin’ like that.  (BTW – Happy Birthday Jerry…)

3 thoughts on “To Whom Do We Owe This Debt Of Gratitude?

  1. Brian

    Look at the non partisan CBO Projections – the actual reports rather than the NY Times interpretation.. in Jan 2009 (when Obama took control) vs Jan 2011 (after 2 years of his term)…

    Projected debt went up by 3.8 T in 2 years

    Jan 2009…
    http://www.cbo.gov/ftpdocs/99xx/doc9957/01-07-Outlook.pdf

    Page 23
    3.1 T in projected new debt

    Jan 2011…
    http://www.cbo.gov/ftpdocs/120xx/doc12039/01-26_FY2011Outlook.pdf
    Page 14
    6.9 T in projected new debt..

    (With respect to the NY times, where does Obama’s renewal of the Bush Tax cuts fall? Bush or Obama? Big O signed the law, but there’s nothing on his side of the chart for them.. Or how about the war costs.. Even though Big O is keeping them going, the NY Times attributes them to Bush..)

    Reply
  2. Jimmy Reefercake

    Brian, you raise some good points that make me want to look into this further…the NY times spin was interesting.

    Reply

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