Reminder, The Deficit You're Freaking Out About Is Bush's Fault

The Business Insider ^ | 6-28-2010 | Gregory White and Kamelia Angelova

[blam]

Reminder, The Deficit You're Freaking Out About Is Bush's Fault

Gregory White and Kamelia Angelova
Jun. 28, 2010, 2:32 PM

President Obama's administration has been blamed for reckless spending that has put America into its debt hole. But in reality, much of that spending emanates from policies of President Bush, according to the Center on Budget and Policy Priorities.

They argue that Iraq, Afghanistan, and the Bush tax cuts (along with the economic downturn) are what is driving the U.S. deficit, not stimulus spending. The CBPP focuses on lower to middle income issues and may be directly involved with the Democratic Party.

The chart presents the ugly truth.

[snip]

[ilgipper]

Author is el stupido.

How would the Bush Tax Cuts, expiring that the end of this year, affect the next consecutive eight years? This fact ignores the fact that lower rates actually created more revenue, but that is besides the point since they expire.

[chris_bdba]

How in the world do they ignore that it has tripled since Bush left office and that can’t be blamed on him? These people are crazy blind and nuts!

[silverleaf]

It doesn’t pass the smell test because “deficit” is the differnce between govt revenue intake and govt spending.
The authors forgot the spending comparison..innocent mistake I’m sure.

Revenue went way up due to economic growth spurred by Bush tax cuts- especially once the Clinton recession was halted....

but SPENDING outpaced the revenue.

Now check the growth of debt- to the penny-
http://www.treasurydirect.gov/NP/BPDLogin?application=np

[csmusaret]

Here’s a graph I can understand:http://www.americanthinker.com/blog/Dow%20roller%20coaster.jpg

[engrpat]

Did a search and this is what I found. It is actually a liberal front group:

The Center on Budget and Policy Priorities (CBPP) is a non-profit think tank

Think tank that describes itself as a "policy organization ... working at the federal and state levels on fiscal policy and public programs that affect low- and moderate-income families and individuals."

The Center examines the short- and long-term impacts of proposed budget and tax policies on the economy, on federal and state budgets, and on households in different income groups. It also examines whether federal and state governments are addressing critical priorities, both for low- and moderate-income Americans and for the population as a whole, and whether they have sufficient revenues to do so.

In addition, the Center identifies and promotes effective approaches to reducing poverty. Specifically, it designs measures to make key programs for low- and moderate-income populations more accessible to eligible recipients, more effective in helping them meet their basic needs while moving toward self-sufficiency, and simpler for federal and state governments to administer.

[a fool in paradise]

In his spare time, he also writes a soccer blog for The Huffington Post

Soccer?

[1rudeboy]

LOL—The Center on Budget and Policy Priorities says it’s Bush’s Fault(tm).

[ArmstedFragg]

I see Soros is getting his money’s worth..

[griswold3]

The President proposes
The Congress disposes..

http://uspolitics.about.com/od/usgovernment/l/bl_party_division_2.htm

Party in power Congress&Presidency

so much for 8 years of Republican party rule...

Are you better off than you were 4 years ago?

[CommieCutter]

“but SPENDING outpaced the revenue.”

---

This almost needs to be made into a bumper sticker until people FINALLY begin to understand this.

[expat_panama]

"...that spending emanates from policies of President Bush..."

--which emanated from Clinton!!!

[silverleaf]

revenue - vs spending

Gee, Bush collected a whole lot more REVENUE
2008-2009
http://www.aier.org/research/briefs/1488-tax-revenue-plummets

historic
http://www.project.org/info.php?recordID=150

[TexasCajun]

I’ve saved that info, would make a great TEA Party sign.

[dfwgator]

--which emanated from Clinton!!!

--which emanated from Bush I.

[ExTxMarine]

“Are you better off than you were 4 years ago?”

WTH are you talking about? We aren’t better off than we were TWO years ago! And I am sure it isn’t going to be getting any better any time soon!

[TwelveOfTwenty]

Clinton's failure to capture Bin Laden when he may have had the chance has a lot to do with Bush's deficits. And even with that burden, Bush and the GOP Congress were on their way to balancing the budget until Americans voted for change in 2006.

[peeps36]

The chart should replace tax cuts with money the government wastes on illegal immigrants and pork projects. Most Americans don't mind their taxes being used to pay for things that are necessary. We don't want to see our money wasted, especially on things that undermine our security and damage our way of life.

[kcvl]

Robert Greenstein, director of the Center on Budget and Policy Priorities, a liberal research group

Supports increased taxpayer funding for social welfare programs

The Center, which is based in Washington, D.C., was founded in 1981 by Robert Greenstein

The Center is supported by a number of foundations, including the Annie E. Casey Foundation, the John D. and Catherine T. MacArthur Foundation, Open Society Institute (George Soros) and the Ford Foundation, as well as individual donors.

According to New York Times reporter Matt Bai, CBPP is funded by the *Democracy Alliance. According to Bai's account, representatives of CBPP attended a May 2006 meeting of the Democracy Alliance to "talk about the agendas they were busy crafting that would catapult Democratic politics into the economic future."

*Anna Burger of the Service Employees International Union (SEIU) was elected vice chair of Democracy Alliance.

Two politically conservative groups that oppose the Center on Budget and Policy Priorities's policy positions accuse the group of producing misleading studies. These critics focus on what they consider to be fallacious assumptions and inaccurate projections made by the group's analysts

CBPP coordinates the State Fiscal Analysis Initiative, a network of state policy research organizations in 29 states committed "to rigorous policy analysis, responsible budget and tax policies, [with] a particular focus on the needs of low- and moderate-income families." Member organizations include groups that regularly advocate increased government spending on the environment, higher wages for workers, and universal health care.

CBPP is a member organization of the Moving Ideas Network (MIN), a coalition of more than 250 leftwing activist organizations working to develop and disseminate progressive policy and advocacy recommendations.

CBPP Board members include, among others: Henry J. Aaron, Senior Fellow at the Brookings Institution; Marian Wright Edelman, President of the Children's Defense Fund; and Robert D. Reischauer, President of the Urban Institute.

Funding for CBPP is provided by such foundations as the Annie E. Casey Foundation, the Nathan Cummings Foundation, the Fannie Mae Foundation, the Ford Foundation, the Freddie Mac Foundation, the William and Flora Hewlett Foundation, the Joyce Foundation, the W.K. Kellogg Foundation, the John D. and Catherine T. MacArthur Foundation, the Open Society Institute, the David and Lucile Packard Foundation, the Public Welfare Foundation, and the Rockefeller Foundation.

[kcvl]

Welcome to the Center on Budget and Policy Priorities’

National Tax Credit Outreach Campaign Website!

The 2010 Tax Credit Outreach Kit is now available. View the Kit online or send an email to eickit@cbpp.org to place an order for a free copy.

If you need further assistance, please call us at 202-408-1080.

http://eitcoutreach.org/

[kcvl]

Robert Greenstein is the founder and Executive Director of the Center on Budget and Policy Priorities.

Prior to founding the Center, Greenstein was Administrator of the Food and Nutrition Service at the U.S. Department of Agriculture under President Carter, where he directed the agency that operates the federal food assistance programs, such as the food stamp and school lunch programs, and helped design the landmark Food Stamp Act of 1977, generally regarded as the Carter Administration’s principal anti-poverty achievement. He was appointed by President Clinton in 1994 to serve on the Bipartisan Commission on Entitlement and Tax Reform and headed the federal budget policy component of the transition team for President Obama. He is a graduate of Harvard College.