Deficit Chart, Updated
by T.L. James | 8:26 am, October 7, 2012 | Comments Off
Glenn Reynolds posts an update to the (in)famous chart comparing Bush and Obama deficit spending, including the numbers for the just-concluded FY2012.
As he notes, the Obama/Democrat canard that the huge deficits under this President are due all or in large part to “paying for two wars on the credit card” is obviously baloney, given the dramatic jump to the $1T range and its maintenance there even while the war in Iraq was being wound down. Indeed, even with the wind-down of Iraq operations, Obama’s deficits have continued to grow, which should not have happened if the borrowing to fight two-now-one wars was the main driver. That should suggest to any reasonable observer that whatever portion those wars have contributed to the deficit they have not in fact been the primary causes of the recent deficit explosion, and that there are other areas of federal spending whose effects dominate the deficit and swamp out the wars’ contributions.
But yes, I know – this is still all Bush’s fault, just in some other way. I just don’t know how anyone can look at these numbers and think that Obama has done anything to fix the problems he claims to have inherited, and that his actions haven’t in fact made things worse.
Surely President Not-Me deserves another four-year chance to fix things. Who knows…at this rate, maybe by 2016 he’ll have the deficit down to only $1.5T…
Tags: Afghanstan > bush > debt > deficit > Instapundit > Iraq > Obama > spending
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