[quote=EconProf]Here are a couple of facts released by Treasury about two weeks ago in various sources.
This year will see a federal deficit of 1.84 trillion (note: historically Treasury usually underestimates deficits). This is over 4 times last year’s fiscal year deficit under Bush.[/quote]
You actually believe the headline deficit total? As I alluded to earlier, it’s a bogus number that includes Social Security contributions and other dishonest accounting practices.
Go here for some real numbers. Bush added over 1 trillion dollars to the national debt between 9/30/2007 and 9/30/2008 alone. Are you seriously suggesting Obama is going to add 4 trillion bucks in one year?
Anyway, Bush’s tens of trillions in unfunded Medicare and Medicaid benefits make the above look like petty cash.
[quote]So while Bush was clearly a big spender who thereby did great harm to the conservative cause, his deficits pale next to what we are now in for.
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