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How the Deficit Got this big
The New York Timmes ^
| July, 23, 2011
| Teresa Tritch
Posted on 07/24/2011 1:59:55 PM PDT by shoff
With President Obama and Republican leaders calling for cutting the budget by trillions over the next 10 years, it is worth asking how we got here from healthy surpluses at the end of the Clinton era, and the promise of future surpluses, to nine straight years of deficits, including the $1.3 trillion shortfall in 2010. The answer is largely the Bush-era tax cuts, war spending in Iraq and Afghanistan, and recessions.
(Excerpt) Read more at nytimes.com ...
TOPICS: Business/Economy; Editorial; News/Current Events
KEYWORDS: blamebush; bushsfault; debt; default; deficit; economy; police; reagansfault; teachers
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I did not see this article posted and would like to know what you fellow freepers think of it. A neighbor sent it to me and a picture tells a thousand words. If you click the link (I know hits to NYTs) and look at the two graphs . Id post here but I dont know how. Was Bush really that bad? How are is the CBO getting these numbers? Even if you take out tax cuts which shouldnt be there he still outspends "The One" by 2. What am I missing?
1
posted on
07/24/2011 1:59:57 PM PDT
by
shoff
To: shoff
Bush, and the Dems were pretty bad but this article is pure spin.
For instance, “tax cuts” are not “New costs”
2
posted on
07/24/2011 2:05:23 PM PDT
by
Psycho_Bunny
(Public employee unions are the barbarian hordes of our time.)
To: shoff
Bush was bad in terms of providing resistance to profligate spending but he is an absolute piker compared to Øbozo.
3
posted on
07/24/2011 2:06:08 PM PDT
by
rockrr
(Everything is different now...)
To: shoff
It's form the cockroaches at the NY Slime and full of manure.
4
posted on
07/24/2011 2:06:46 PM PDT
by
SandRat
(Duty - Honor - Country! What else needs said?)
To: shoff
5
posted on
07/24/2011 2:06:58 PM PDT
by
Right Wing Assault
(Dick Obama is more inexperienced now than he was before he was elected.)
To: shoff
The New York Times blames the deficit on everything except increased government spending.
6
posted on
07/24/2011 2:07:15 PM PDT
by
bwc2221
To: shoff
President Bush acted properly in the beginning in Afghanistan. Where he erred terribly was in leaving Afghanistan half-finished to undertake a foolish and and needless neoconservative crusade in Iraq which cost lives, national wealth and a chance to finish the job in Afghanistan.
To: shoff
..bush’s 2008 stimulus was with a RAT senate and Congress elected in 2007.
8
posted on
07/24/2011 2:07:49 PM PDT
by
Doogle
((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
To: shoff
He sure spent like a drunken sailor WITH a republican congress. But if they’re saying he spent twice as much as obama what needs to be said is that it only took obama 2 years to spend half as much as bush spent in 8.
9
posted on
07/24/2011 2:07:54 PM PDT
by
Terry Mross
(I'll only vote for a SECOND party.)
To: shoff
The answer is largely the Bush-era tax cuts... You have to be a BIG believer in BIG Socialist government to believe this crap. I believe it is caused by 52% of the people living in this country not being required to pay income taxes. If these so called "americans" want BIG government, EVERYONE should have to "pay their fair share". It's not "the rich's" job to subsidize Socialism for the freeloaders living here.
10
posted on
07/24/2011 2:08:19 PM PDT
by
FlingWingFlyer
(Hey Barry! Compromise this!!!)
To: shoff
We sure as hell didn't have 10% unemployment. And Bush was open to drilling and keeping taxes DOWN.
Obama went crazy with power...with handouts...kissing the union butts...AND OBAMACARE....GET RID OF IT!!! and watch what happens.
To: shoff
Teresa Tritch Potent drug addiction, it has to be...
12
posted on
07/24/2011 2:08:53 PM PDT
by
EGPWS
(Trust in God, question everyone else)
To: shoff
Revenue graphs. Unemployment and employment graphs.
13
posted on
07/24/2011 2:08:53 PM PDT
by
Paladin2
To: shoff
14
posted on
07/24/2011 2:09:48 PM PDT
by
Right Wing Assault
(Dick Obama is more inexperienced now than he was before he was elected.)
To: shoff
15
posted on
07/24/2011 2:11:00 PM PDT
by
Tucker39
To: bwc2221
16
posted on
07/24/2011 2:12:11 PM PDT
by
Tucker39
To: shoff
“It’s all Bush’s fault” again...
17
posted on
07/24/2011 2:12:18 PM PDT
by
Beowulf9
To: shoff
There was never a surPlus under Clinton. Ever!
18
posted on
07/24/2011 2:13:06 PM PDT
by
sappy
To: shoff
Despite what antigovernment conservatives say, non- defense discretionary spending on areas like foreign aid, education and food safety was not a driving factor in creating the deficits. In fact, such spending, accounting for only 15 percent of the budget, has been basically flat as a share of the economy for decades. Cutting it simply will not fill the deficit hole.
ah yes...no bias here from the NYSLimes...its all GWB's fault and is us "antigov't conservatives"...anti-big gov't??? yes....smaller gov't??? yes...anti-gov't?? nope...never see them refer to ayatollah obama as "anti-business/anti-capitalist/anti-success in the private sector" obama...
19
posted on
07/24/2011 2:14:34 PM PDT
by
God luvs America
(63.5million pay no federal income tax then vote demoKrat)
To: Psycho_Bunny
Also note how she ascribes 1.2 trillion in war costs to Bush and zero to Obama.Last time I looked we are still in both Iraq and increased costs in Afghanistan and layered on another war in Libya under Obama.Also GDP grew by 25% since the tax cuts and she does not account for the increased revenues from GDP growth offsetting the tax cut “expenditure”. The graph is more political posturing by a Times commentator currying favor with her publisher than it is a serious analysis.
20
posted on
07/24/2011 2:14:57 PM PDT
by
chuckee
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