Figures… Team Obama Blames Bush For Their Trillion Dollar Spending Binge
This is really sad.
And, just like how Obama and the democrats lied about the the last 8 years of economic growth, they are hoping that the media will play along with them and blame Bush for the dangerous deficit they have already racked up in Obama’s first 40 days on the job.
To be clear– those failed Bush policies dropped the deficit 4 of 8 years, held an average unemployment at 5.2%, saw the strongest productivity growth in 4 decades and witnessed robust GDP growth.
Bush was able to do this despite the recession he inherited, 9-11, Hurricane Katrina, and wars in Iraq and Afghanistan.
As you can see from this chart, after the Bush tax cuts were implemented the budget deficit was reduced 3 of the last 4 years:
CBO chart via RedState
The deficit was reduced in 2005, 2006 and 2007 even with war and implementation of the successful Bush surge of troops in Iraq.
It wasn’t until the mortgage crisis struck the economy, a crisis Bush warned the democratic Congress about 17 times in 2008 alone, that the deficit climbed to $459 billion.
USA Today published an interactive chart on the the Obama Administration’s significant increase in spending this year.
In President Bush’s last year in office, 2008, the deficit reached $459 billion:
In President Obama’s first year in office the deficit is expected to reach $1.75 trillion and that is if everything goes according to the rosy scenario they are hoping for:
That is nearly 4 times as much as during President Bush’s last year in office.
Obama wants to blame Bush for this.
Don’t let him.
Bush didn’t leave a trillion dollar debt.
Obama already has.
Related… As the Dow keeps dropping, the President is running out of people to blame.
UPDATE: House Republicans grilled the Team Obama for cooking the books yesterday.