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Deficit & Debt: The Republican Legacy

The lies that we are getting from the Republicans, supported too often by the mainstream media, have put the entire federal deficit and debt onto Barack Obama's shoulders. Well, here's the truth about it.
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The pablum, the bile, the lies that we are getting from the Republicans and their right-wing storytellers, supported too often by the mainstream media, have put the entire federal deficit and debt onto Barack Obama's shoulders. Well, here's the truth ...

Bush Elected $850 billion SURPLUS

Bush Re-Elected $415 billion DEFICIT

Bush Finishes $1.2 trillion DEFICIT

2009-11-25-GOPDeficits25.jpg

U.S. Budget History
Jan'01: Bush Becomes President

$850 billion SURPLUS

Nov'04: Bush Re-Elected

$415 billion DEFICIT

Jan'09: Obama Becomes Pres.

$1.2 trillion DEFICIT

Republican Debt Legacy
Ronald Reagan (1981-1989)

Started: $1.6 trillion debt

Finished: $3.0 trillion debt

George H.W. Bush (1989-1993)

Started: $3.0 trillion debt

Finished: $4.3 trillion debt

George W. Bush (2001-2009)

Started: $5.8 trillion debt

Finished: $10.8 trillion debt

As Bush Jr. turned an $850 billion budget surplus into a $1.2 trillion dollar deficit, he became responsible, alone, for about 42% of the current national debt.

Sources:
Wall Street Journal / November 25, 2009
http://online.wsj.com/article/SB125911304434363357.html
Washington Post / June 9, 2009
http://www.nytimes.com/2009/06/10/business/economy/10leonhardt.html

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