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Author Topic: Bush Deficit vs. Obama Deficit in Pictures  (Read 2299 times)

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Offline fish

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Bush Deficit vs. Obama Deficit in Pictures
« on: April 17, 2009, 02:59:29 AM »

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some understand pictures better than words.
 
Posted March 24th, 2009 at 10.20am in Ongoing Priorities.   wapoobamabudget1
President Barack Obama has repeatedly claimed that his budget would cut the deficit by half by the end of his term. But as Heritage analyst Brian Riedl has pointed out, given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious. The Washington Post has a great graphic which helps put President Obama’s budget deficits in context of President Bush’s.
What’s driving Obama’s unprecedented massive deficits? Spending. Riedl details:
  • President Bush expanded the federal budget by a historic $700 billion through 2008. President Obama would add another $1 trillion.  President Bush began a string of expensive finan­cial bailouts. President Obama is accelerating that course.  President Bush created a Medicare drug entitle­ment that will cost an estimated $800 billion in its first decade. President Obama has proposed a $634 billion down payment on a new govern­ment health care fund.  President Bush increased federal education spending 58 percent faster than inflation. Presi­dent Obama would double it.  President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs. President Obama has already in­creased this spending by 20 percent.  President Bush tilted the income tax burden more toward upper-income taxpayers. President Obama would continue that trend.   President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.
UPDATE: Many Obama defenders in the comments are claiming that the numbers above do not include spending on Iraq and Afghanistan during the Bush years. They most certainly do. While Bush did fund the wars through emergency supplementals (not the regular budget process), that spending did not simply vanish. It is included in the numbers above. Also, some Obama defenders are claiming the graphic above represents biased Heritage Foundation numbers. While we stand behind the numbers we put out 100%, the numbers, and the graphic itself, above are from the Washington Post. We originally left out the link to WaPo. It has been now been added.
CLARIFICATION: Of course, this Washington Post graphic does not perfectly delineate budget surpluses and deficits by administration. President Bush took office in January 2001, and therefore played a lead role in crafting the FY 2002-2008 budgets. Presidents Bush and Obama share responsibility for the FY 2009 budget deficit that overlaps their administrations, before President Obama assumes full budgetary responsibility beginning in FY 2010. Overall, President Obama’s budget would add twice as much debt as President Bush over the same number of years.
 
http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/

Offline shadylane

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Re: Bush Deficit vs. Obama Deficit in Pictures
« Reply #1 on: April 17, 2009, 04:49:41 AM »
I thought you said bush did a great job as president. Here you are showing he took a budget surplus and turned it into a deficit. Now we are going to have to spend even more money to clean up the mess he made. Is your chart wrong or have you been lying to us?
"The problem with America is stupidity. I'm not saying there should be a capital punishment for stupidity, but why don't we just take the safety labels off of everything and let the problem solve itself?"

Offline fish

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Re: Bush Deficit vs. Obama Deficit in Pictures
« Reply #2 on: April 18, 2009, 01:23:35 AM »
what happened during w's term?

what is nobama's excuse?

Offline fish

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Re: Bush Deficit vs. Obama Deficit in Pictures
« Reply #3 on: April 18, 2009, 01:32:45 AM »
Obama Pictures, Images and Photos

Offline contemplating

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Re: Bush Deficit vs. Obama Deficit in Pictures
« Reply #4 on: April 18, 2009, 03:34:47 PM »
The clarification paragraph says it all.  When OB owns it, it will be twice the mess Bush created.

The implication being of course it is no longer fallout from the Bush admin, it is now OB's creation.

What I find amusing is the projections are based on massive defense budget cuts, pet project cuts, etc, etc, etc.  Why will it cost so much to realize the savings? (sarc)
"In order to be a leader of men, a man has to receive an education in his own country, among his own people, and to grow up in surroundings steeped with the traditions and psychology of his countrymen.  Not only did Western education not fulfill that condition, but it tended to wean a young man from the traditions and customs of his country."

King Abdulaziz ibn Saud...circa 1930
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Offline What_The?

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Re: Bush Deficit vs. Obama Deficit in Pictures
« Reply #5 on: April 21, 2009, 06:27:55 PM »
Did you include off budget for Bush, like Iraq and Afghanistan, SS, Medicare, etc?

Obama did.
"There are plenty of good reasons for fighting, but no good reason ever to hate without reservation, to imagine that God almighty Himself hates with you, too. Where's evil? It's that large part of every man that wants to hate without limit, that wants to hate with God on its side." - Kurt Vonnegut

Offline matrsnot

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Re: Bush Deficit vs. Obama Deficit in Pictures
« Reply #6 on: April 21, 2009, 06:31:07 PM »
Suggestion.  How about cutting congressional pay?  That would save some money too.  You know.  Peck away like he is doing with his cabinet.  Cut their office expenditures along with a pay cut.

Offline cowboy

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Re: Bush Deficit vs. Obama Deficit in Pictures
« Reply #7 on: April 21, 2009, 07:19:37 PM »
Did you include off budget for Bush, like Iraq and Afghanistan, SS, Medicare, etc?

Obama did.

Did not read the words did we?

Offline cowboy

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Re: Bush Deficit vs. Obama Deficit in Pictures
« Reply #8 on: April 21, 2009, 07:21:23 PM »
Suggestion.  How about cutting congressional pay?  That would save some money too.  You know.  Peck away like he is doing with his cabinet.  Cut their office expenditures along with a pay cut.

Remember they added $93,000 to their petty cash funds as a raise during the time frame they were reading  the stimulus package.

Offline Coyote

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Re: Bush Deficit vs. Obama Deficit in Pictures
« Reply #9 on: April 21, 2009, 07:48:36 PM »
Maybe a good way to cut expenses would be to go the "paperless" government that we were supposed to be headed for back in 1998.  Well.  That didn't happen.  Look at how much a carton of copy paper went up in the last 10 years or pens and pencils.  Office expenditures aren't cheap.

Suggestion.  How about cutting congressional pay?  That would save some money too.  You know.  Peck away like he is doing with his cabinet.  Cut their office expenditures along with a pay cut.
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Offline igahmah at work

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Re: Bush Deficit vs. Obama Deficit in Pictures
« Reply #10 on: April 21, 2009, 07:50:09 PM »
I suggest congress and the senate stop all pay raises for themselves until the budget is balanced.  It just makes me mad that they can vote on their own pay raise. If they were paid according to "performance appraisals" like most of us are, they would be taking a cut in pay. 
When I was young, I wanted to be older.  This is not what I expected!

Offline fknarmyguyretired

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Re: Bush Deficit vs. Obama Deficit in Pictures
« Reply #11 on: April 21, 2009, 09:31:39 PM »
and a rather large one at that

I suggest congress and the senate stop all pay raises for themselves until the budget is balanced.  It just makes me mad that they can vote on their own pay raise. If they were paid according to "performance appraisals" like most of us are, they would be taking a cut in pay.