Obama’s Deficit Lies Exposed in Three Easy to Read Charts

Throughout his first term and during the recent campaign Barack Obama blamed the Bush tax cuts for the trillion dollar deficits.

It was a lie. He knew it was a lie. The media knew it was a lie. They let him get away with it anyway.

The truth is federal revenues went up after passing the Bush tax cuts and the deficit went down.
In fact, federal receipts reached Clinton-era levels in 2006, 2007, and 2008 without Clinton-era tax rates.
This was all due to the Bush tax cuts.

WHERE THE DEBT COMES FROM– in one chart.
Via Instapundit:

During the Bush years, despite the 2000 Recession, the attacks on 9-11, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to reduce the budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007, a sixty percent drop. In 2004 the federal budget deficit was 412 billion dollars. In 2005 it dropped to 318 billion dollars. In 2006 the deficit dipped to 248 billion dollars. And, in 2007 it fell below 200 billion to 162 billion dollars. During the Bush years the average unemployment rate was 5.2 percent, the economy saw the strongest productivity growth in four decades and there was robust GDP growth.

Then there is this…
INVESTOR’S BUSINESS DAILY pointed out today that the government’s own data collectors debunk the myth that the Bush tax cuts built the deficit.
Via Instapundit:

IBD reported:

While President Obama insists the Bush tax cuts caused the recession and record deficits, his own economists say otherwise.

He might want to consult their data for the truth.

Kicking off fiscal cliff negotiations last month, Obama said: “What I’m not going to do is extend Bush tax cuts for the wealthiest 2% that we can’t afford and, according to economists, will have the least positive impact on our economy.”

During the White House press conference, he added, “If we’re going to be serious about deficit reduction, we’ve got to do it in a balanced way.”

Obama argued voters made it clear in the election that they don’t want to go back to Republican policies that “cost” the Treasury revenues and “blew up the deficit,” as he told them repeatedly during the campaign.

The Washington media by and large share these assumptions. And they’re driving the debate over what to do about the federal budget crisis before Jan. 1, when the tax cuts and spending programs are set to expire.

But the assumptions are faulty, based largely on political demagoguery rather than hard numbers — including ones certified by Obama’s own fiscal policy advisers and bean counters in the White House. . . . Based on Bush fiscal policies, the nonpartisan Congressional Budget Office projected budget deficits of 0.7% to 1.5% of GDP for the years 2008 through 2011. The CBO even predicted surpluses for the subsequent years through 2018. . . . Obama’s economic report shows that the average deficit-to-GDP ratio during the entire Bush administration — 2001 to 2009 — was 2%, which is well below the 50-year average of 3%. During the Obama years, in contrast, the same deficit ratio has averaged 9.1%.

Unfortunately for the American public, the liberal media has never called Obama out on these lies.

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  • robotech master

    All the republicans need to do is prevent the debt ceiling from being raised and its automatic WIN. Better if they got together and lowered the debt ceiling a few hundred billion.

    The problem is that the republicans are socialist lite, cowardly, spineless, ball-less, obama loving low life gutter trash. Thus in turn they will gladly raise the debt ceiling solely to get approve to voice they’re supposed disapprove.

  • Sasja

    Truth? HA! As if this regime and its slavish followers really care. They are too caught up in their silly class envy, free condoms for all, abortions, greed…

  • jharp

    Let’s see here.

    Bush inherited a budget surplus in his first year.

    And left office with a $1.4 trillion deficit.

    But revenues went up and outlays went down. And republicans are the party of cutting spending.

    And Obama is lying.

    God you people are stupid.

  • bigL

    I read it wouldtake a human,counting as in 1..2..3… thirty-two thousand years to count to a trillion dollars. It is insame to talk of these amounts which used to be distances to stars. The nearest star to us is Alpha Centauri and its twin: 4 trillion kilometers.

  • FurryGuy

    #3 December 2, 2012 at 8:18 pm
    jharp commented:

    So you can muster no rebuttal, all you can do is insult. Look in the mirror before you start accusing others of being stupid.

    Not that it will matter since you are so clueless of reality. You imbibe and regurgitate the lies of the Left. You are self-parody of a useless idiot.

    If you are so sure of your own moral superiority why bother dealing with us heathens?

  • jharp

    #5 December 2, 2012 at 8:25 pm
    FurryGuy commented:

    #3 December 2, 2012 at 8:18 pm
    jharp commented:

    “So you can muster no rebuttal”

    Not at all. Here is my rebuttal. Just copied and pasted my original post, dumbass.

    #3 December 2, 2012 at 8:18 pm
    jharp commented:

    Let’s see here.

    Bush inherited a budget surplus in his first year.

    And left office with a $1.4 trillion deficit.

    But revenues went up and outlays went down. And republicans are the party of cutting spending.

    And Obama is lying.

    God you people are stupid.

  • cavt

    Agreed Robotech. Bushes big govt spending and growing paved the way for our loser president. Also makes it difficult for GOP to claim the mantle of small govt when that isn’t what they have done when the opportunity was there. Think the GOP leadership is worthless and still of this mindset. Hopefully there are some young guns who will step up and take on this fight. A good part of Perot’s popularity in the 90’s(despite media jokes) was his use of charts like this and ability to explain this clearly to the public. Is there any leader today who could successfully use this type of info to make our case with the public?

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  • Patty

    ‘We’re Becoming Greece’
    Lindsey Graham: ‘I think we’re going over the cliff’

    Read more: http://dailycaller.com/#ixzz2DxAniBw4

  • Cliff

    First, there was never a surplus. I know lots of people like to talk about there being a surplus, some claim it was four years of surplus. Republicans like to talk about the surplus because they were running the house at the time. Democrats like to talk about it because Clinton was president. But the bottom line is, the national debt went up every year of the supposed surplus. If your debt is still climbing, there is no surplus. And the deficit was growing when Bush took office.

    Second, Bush didn’t leave a $1.4 trillion deficit. The 2009 budget would have been owned by Bush if the democrats who ran congress had bothered to pass a budget while he was still in office. But they didn’t pass the 2009 budget until Obama was in office, and I believe it is the only budget he has ever signed. Bush did contribute to some of that spending, but it wasn’t enough for Obama and he spent even more.

    And none of that matters when it comes to this story. It simply proves that the claim that the Bush tax cuts somehow cost the treasure money is a lie.

  • Sasja

    Well, at least jarp finally agrees; Obama is lying.

  • Bronson

    @jharp Bush didn’t inherit a “surplus”. That’s a laughable lie. Bush also spent domestically like a drunken liberal to appease you wackos who branded him Hitler for 8 years.

    http://online.wsj.com/article/SB10001424052748704738404575347302831199046.html

    The “Clinton Surplus” is a myth based on CBO Projections. When they made the projection, they weren’t factoring in terrorists attacks, natural disasters ect. That 1.4T deficit you’re complaining about included TARP (Obama was left of it and promptly flushed it down the toilet) and the the Omnibus Spending Bill which was passed by Obama and the Democrats after Bush was long gone from office. Obama has been illegally spending at TARP levels of expenditures year after year illegally because your hero Harry Reid in the Senate is too chickensh*t to pass a budget.

    Secondly after many of Bush’s policies were implemented (including his prescription drug plan) his deficit in 2007 was only 161 billion. Obama has run record trillion dollar deficits 4 years in a row and counting. Factor in the housing crash caused by liberal democrats like Barney Frank and Chris Dodd, which led to lower revenue while adding massive stimulus spending which did absolutely nothing to improve the economy while Obama’s green cronies got rich of taxpayer money and even a chimp could do the math you are incapable of doing.

    God you liberals are so stupid.

  • Patty

    THE “STUPIDITY” OF THE PRIVATE SECTOR: The Left’s Other Economic Straw Man

    …So instead of lamenting the lack of fairness, let’s talk about the stupidity of this hollowing out of the middle class in this country, year after year, with bought and paid for legislation and preferential tax treatment.

    Henry Blodget demonstrated last night how, while corporate profits have never been higher, the wages paid to workers at these same corporations have never been lower. While corporate profit margins just hit a 70-year high, have a glance at wages as a percentage of GDP:

    http://4.bp.blogspot.com/-nruUyXNcK5U/ULvsmddhlnI/AAAAAAABCoU/nzjj1BmloPg/s1600/121202-wage-as-gdp.gif VIEW IMAGE

    [……………..]

    The federal government is the world’s biggest borrower, its biggest lender, its biggest health insurer, and runs the biggest retirement system. And every time it has touched any part of our economic system, it has bankrupted or destroyed it.

    The system is going to collapse, just as it is collapsing in Europe today, just as it did in Argentina a decade ago, and just as it did in the Weimar Republic. And the tragedy — the travesty — is that we were blessed with a system of Constitutional government that was explicitly designed to prevent all of this madness.

    Corporations are terrified of the federal government. And those ostensibly running things, our politicians — with the exception of a handful of plain-spoken folks demonized as “extremists” — have largely surrendered to the corruption endemic to an unconstitutional, centralized government that, each and every day, pushes us closer to tyranny.

    That, Joshua, is the problem: the world’s biggest corporation called the federal government.

    so much more, read on site

    http://directorblue.blogspot.com/2012/12/the-stupidity-of-private-sector-lefts.html

  • Patty

    What an arrogant person.

    Obama Campaign Still Asking for Contributions

    http://politicker.com/2012/12/obama-campaign-still-asking-for-contributions/

    WTH is this about???

  • Blacque Jacques Shellacque

    And left office with a $1.4 trillion deficit.

    Ha ha ha, not only is jharp an a-hole, but he’s an ignorant one at that.

  • Patty

    MIND CONTROL? Whatever it is the liberal media is taking over the airwaves. Hope you all are noticing this, I have.

    Czars, media bias, cover up in Benghazi, Lies about the deficit. You name it, our nation is becoming GREECE and when Obama’s term is up, wait, now he could become the first 3rd term president, some have been floating that around. And now this,

    NBC Announces Anti-Gun Message During Football Game.
    ~~~~~~~~~~~
    Michael Bloomberg Puts Anti-Gun Plans Into Action

    America’s Most Dangerous Mayor has long advocated stricter gun control laws – not just in his own mayoral jurisdiction, but in other places around the country. Not content to merely govern New Yorkers, Bloomberg has begun to put his personal fortune on the line to oust Second Amendment advocates around the country. The Sacramento Bee reports that Bloomberg spent millions in opposition of a pro-gun Democrat Congressman in California. His efforts were rewarded, as the NRA-supported Democrat lost to a more liberal candidate. No doubt the strongest gun control advocate on Forbes’ list

    http://townhall.com/tipsheet/kevinglass/2012/12/02/michael_bloomberg_puts_antigun_plans_into_action
    Read more

  • DomesticGoddess

    JHarp is a miserable provacateur and is posting on every story. Hey JHarp, let me remind you that YOUR party was in control of Congress in the last two years of the Bush presidency and they caused the sub prime loan disaster and many other problems. Get out of mommy’s basement and get a job. Oh, you have one – Barky is paying you to post here.

  • Indiana

    #14 Patty…..he’s building his war chest for his third term. Don’t think for a moment that he’s not planning on it!

  • Patty

    Norquist Dares Obama: Put Fiscal Cliff Negotiations On TV

    http://patdollard.com/wp-content/uploads/2012/12/obama-liar1-400×350.jpg VIEW IMAGE

    Closed-door negotiations to avert the fiscal cliff haven’t yielded much progress so far, so anti-tax activist Grover Norquist has a suggestion: Put them on TV.

    Norquist, the president of Americans for Tax Reform who’s become Democrats’ favorite bogeyman, said if President Barack Obama meets with congressional leaders in front of cameras the American people will be able to better judge who is being “reasonable” about compromise.

    “It’s the president who is threatening to raise taxes on the middle class if he doesn’t stamp his feet and get his way,” Norquist said Sunday on NBC’s “Meet the Press.” “He should get into a room with C-Span cameras there and negotiate. Lets have it in front of C-Span cameras. And if the Republicans are being reasonable, we’ll see that. If they’re not, we’ll see that. Gotta have cameras in that room.”

    http://patdollard.com/2012/12/norquist-dares-obama-put-fiscal-cliff-talks-on-tv/

  • Weelove

    People the problem we have is lying D !!! Clinton (no I won’t sign nafta). First thing he did was sign it soooo now all manufacturing jobs left the USA So please remember we can never trust anyone with a D and jharp go back to bed your to young for adult conversation!!!!

  • Patty

    The GOP’s Payroll Tax Opportunity

    And yet, rather than start a fight to prevent a middle-class tax increase, Republicans seem resigned to it, and may even leave an opening for the Democrats to oppose the increase while the GOP focuses exclusively on defending low rates for top earners.

    This is not the first time Republicans have missed the opportunity to make the case for this middle-class tax cut. The idea of responding to our weak economy by lessening the tax burden on the middle class came first from conservatives. In 2009, as Democrats were preparing their pork-ridden stimulus bill, a few conservative economists—most notably Lawrence Lindsey (in these pages) and Douglas Holtz-Eakin—argued that Republicans should propose a significant reduction in the payroll tax as their alternative means of encouraging growth. Republicans never took the advice, and instead it was President Obama who seized that idea a year later.

    In 2010, after the GOP’s midterm-election victory, the president proposed a one-year reduction in the Social Security payroll tax, taking the employee share of the tax from 6.2 percent to 4.2 percent (employers continue to pay 6.2 percent). Though reluctant, Republican leaders went along with the cut because it was combined with an extension of the Bush-era tax rates. In late 2011, the payroll-tax cut was extended for another year, through 2012.

    http://www.weeklystandard.com/articles/gop-s-payroll-tax-opportunity_664292.html

  • Patty

    And I have wonder what that lunch was all about with Romney.

  • Patty
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  • Bill Mitchell

    My question is why do REPUBLICAN LEADERS never call Obama out on these lies? Why did ROMNEY HIMSELF never call Obama out on these lies?

    ROMNEY allowed Obama.to utterly demagogue this issue and never once refuted it.

    Shame on him.

  • Rose

    There is a very peculiar set of Harvest Principles at work when someone doesn’t get caught in the normal routine way for their wrongs and evil doings on this planet and just “seemingly” skate by on issue after issue after issue, never paying the Piper on this earth…

    I don’t know exactly how to explain it, but it means this guy who is “seemingly skating” – getting away with it – has a great deal BIGGER BAD PROBLEM up ahead than all this previous stuff can add up to. And God is letting him feel pompous and bad a## about it all, so he will just go deeper and deeper into the core of the Big Problem.

    So when their Cup of Wrath is filled to the brim, and all the Harvest comes down on him, God can do humongous BLESSING THINGS on all the people the Bad A## was trying to hurt, at the same time as bringing a gigantic Harvest on the \Bad Guy, too.

    We are talking about people like Pharaoh, Goliath and his 4 brothers and the eradication of the Philistines, and people of that ilk.

    I’ve never seen an “American” person be set in such a position in my life, or in any history I have ever studied. Including Bill and Hillary Clinton – even though their stuff is absolutely being folded into the Obama/Soros stuff, too

    The only reason this is still cooking is because it is still surprising who is still shaking out of the trees FOR WHICH SIDE OF THE CAUSE. Many GOP are shaking out in support of Obama, and some DIMS are shaking out RUNNING AWAY from Obama, as well. So, while it is like the last minute of the popcorn bag popping, NOT TOO MUCH LEFT TO GO…
    Some corn is still popping!

    The secret is DO NOT PANIC. CALL their bluffs and lies. LET THEM JUMP OFF THE CLIFFS they created themselves.

  • shadow

    But the bottom line is, the national debt went up every year of the supposed surplus.

    That is true, but then the surplus or deficit is not defined by the net change in the federal debt. Perhaps it should be. But if it were,Bush’s 2007 deficit wouldn’t have been $162B. It would have been over $500B. And the next year it was more than twice that.

    The 2009 budget would have been owned by Bush if the democrats who ran congress had bothered to pass a budget while he was still in office.

    Oh, but they did. Bush wouldn’t sign it.

    But they didn’t pass the 2009 budget until Obama was in office,

    That was the FY 2010 budget.

    And none of that matters when it comes to this story. It simply proves that the claim that the Bush tax cuts somehow cost the treasure money is a lie

    Hardly. Revenues increased for 17 years straight before Bush cuts taxes in 2001. Then it decreased for three years in a row. The fact that it continued to increase after the tax cuts were over, does not show cause and effect, particularly since revenue increases are the default state.

  • Blacque Jacques Shellacque

    My question is why do REPUBLICAN LEADERS never call Obama out on these lies?

    If I had to venture a guess, I’d say they fancy the idea of conducting a political brawl as beneath them. What other explanation is there?

  • shadow

    All the republicans need to do is prevent the debt ceiling from being raised and its automatic WIN. Better if they got together and lowered the debt ceiling a few hundred billion.

    Like I said, the ones who’d rather have the US default on its loans rather than increase the debt limit.

  • Blacque Jacques Shellacque

    Like I said, the ones who’d rather have the US default on its loans rather than increase the debt limit.

    Enough is enough. Washington has a chronic spending problem, and the solution is NOT to simply continue down the same path uninterrupted.

  • shadow

    Enough is enough. Washington has a chronic spending problem, and the solution is NOT to simply continue down the same path uninterrupted.

    Well then Congress has to stop authorizing expenditures. They can’t simply refuse to pay when the bills come due.

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  • mg4us

    Time for Congress to step up and act like adults and keep the man-child Obama in his place
    Time to DEFUND OBAMA’s reckless spending
    http://www.americanthinker.com/blog/2012/12/end_runs_could_tame_obama.html

  • Limousine Barry

    I lied! Big deal! You should be my lies to it by now!

    You will be unhappy to learn that the true US debt is more in the range of 87 trillion dollars. Ha-ha! Screw the taxpayers and their children… and their children’s children!

    How do you think my cronies and I can afford expensive limousines? Not to mention the expensive gas that they consume!

    “Why haven’t Americans heard about the titanic $86.8 trillion liability from these programs? One reason: The actual figures do not appear in black and white on any balance sheet. But it is possible to discover them. Included in the annual Medicare Trustees’ report are separate actuarial estimates of the unfunded liability for Medicare Part A (the hospital portion), Part B (medical insurance) and Part D (prescription drug coverage).”

    http://online.wsj.com/article/SB10001424127887323353204578127374039087636.html

  • bigL

    I think the GOP as constituted now is very weak. They get paid whether they win or not.
    Apparently the GOP does not have any spokes person to rebutt the Obama Junta.

    They should by news paper timeand tv time to speak on these issues. If the alphabets won’t sell it, just kep offering more. The RNC head said he wassitting on tens of millions-now is when we need it spent. Try and do, jerks

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  • robotech master

    #29 December 3, 2012 at 12:18 am
    shadow commented:

    “Like I said, the ones who’d rather have the US default on its loans rather than increase the debt limit.”

    Umm you understand that raising the debt ceiling will not cause a default…right? The only way there would be a default is if congress or obama decide to default which is a separate issue.

  • robotech master

    suppose to be a not in there

    “Umm you understand that NOT raising the debt ceiling will not cause a default…right?

  • The Schaef

    #3 December 2, 2012 at 8:18 pm
    jharp commented:

    Let’s see here.

    Bush inherited a budget surplus in his first year.

    And left office with a $1.4 trillion deficit.

    Well, yes, when you consider that Bush took office just as a recession was taking hold, exacerbated by a terrorist attack that targeted our financial centers.

    And when you consider that Bush’s deficits were going DOWN after the tax cuts, both in real dollars and as a percentage of the GDP.

    The one year of the “$1.4t deficit” was in a year when the Democrat-led Congress refused to pass the FY09 budget, not just past the end of FY08, not just past the election, but until weeks after Obama took office. Obama then dumped another $400b in spending into the final bill, and later front-loaded a significant portion of ARRA into FY09 spending.

    So yes, Bush had a “$1.4t deficit”. One time. In a year when he had no control over the budget process after submitting his initial proposal (which had significantly less). And which had the two wars. And the bank bailout. And the auto bailout. And the extra Obama spending. And part of ARRA.

    So now the bank bailout is over, the auto bailout is over, ARRA is over, Iraq is over, Afghanistan is winding down, and yet, even without all of these factors that added to that FY09 deficit, Obama is STILL running trillion-dollar deficits every year. And that doesn’t raise a question in your mind?

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  • Blacque Jacques Shellacque

    They can’t simply refuse to pay when the bills come due.

    Just what are you going on about? How is refusing to raise the debt limit the same as refusing to pay the bills? We’re already in debt a staggering amount, and it’s lunacy to keep on adding to that balance, which is exactly what Obie and the Democrats have been doing, and will keep on doing if given the chance.

    Do your fellow commenters here a favor, and whatever it is you drink, smoke, snort, or shoot up before posting, stop doing it.

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  • William Ted Broen

    http://www.msnbc.com/rachel-maddow-show/the-public-has-no-idea-the-deficit-shrinking

    This is the accurate reflection of the shrinking deficit authenticated by a reliable source..