Friday, May 20, 2011

Chart O' The day



In other words "the economic downturn, President Bush’s tax cuts, and the wars in Afghanistan and Iraq explain virtually the entire federal budget deficit over the next ten years."

Source: Center on Budget and Policy Priorities

Via: Kevin Drum

3 comments:

charlesH said...

Well you could say the ENTIRE deficit is due to the fact that Dems didn't/couldn't raise taxes as much as they wanted.

When the housing/economy bubble burst Dems wanted to just keep on spending like nothing had happened.

charlesH said...

I think one can summarize the deficit mess by:

Dems want gov to be >=25% of the economy but lack the political strength to raise taxes to this level.

Reps want gov to be <=20% of the economy but lack the political strength to cut spending to this level.

The result, massive deficits.

Dano said...

That's good comedy, charles. Thanx fer the LOLz at your expense.

Best,

D