Tag Archives: Deficit

Obama blames Bush for Obama’s 1.75 trillion dollar deficit

Full story over at Gateway Pundit.

Excerpt:

[Bush’s 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.

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.

Have you seen this chart? (Source: CBO chart via RedState)

Gateway Pundit also mentions that Bush warned about crisis 17 times in 2008 and was blocked from regulating the GSEs by the Democrats. I proved here that the Democrats are to blame for this mess. In the post, I cited 1999 and 2003 articles from the left-wing New York Times and Los Angeles Times. There are also videos of Republicans trying to stop the crisis and Democrats blocking them.