That deficit figure is misleading.
The national debt increased by $575 billion in FY 2006.
Its not misleading. Its crystal clear. Obama’s website lays it out rather clearly:
http://www.whitehouse.gov/omb/budget/Historicals
The first spreadsheet summarizes budget positions from the beginning of the nation.
In 2007, the deficit is 160 billion dollars. For the last two Obama budgets, the deficit has been:
10 times larger— more than 1 trillion dollars each year
Also keep in mind the following facts about the recent budget process:
Obama’s last two budgets have garnered exactly ZERO votes in Congress
The Ryan budgets which are demonized have garnered dozens of votes from both sides
The Democratic Senate has failed to pass a budget or compose a budget for the past three years. Harry Reid says it is not a reasonable expectation— which is outrageous.
Also keep in mind, that the Auto bailout that is the centerpiece of Obama’s alleged successes was passed and signed by Bush.
So we have to give Obama all the credit for car bailouts and Bush all the budget blame.
Also keep in mind that the Bush bailouts had payback provisions with interest to be paid back to the treasury. The financial bailouts have been paid back and much of the car bailouts have been paid back.
The Obama modifications to the budget— which you ignore— after he came to office DO NOT require payback.
Solyndra and other recipients of the Obama stimulii do not have to payback their government payoffs.
This distinguishes the Bush bailouts in both principal and practice. In fact, the Obama administration has relished using the Bush payback system to further fund their crony capitalism.
This is an absolutely absurd debate. Obama has thrashed the fiscal processes of this federal government and he has had tremendous assistance from Harry Reid in the Senate in doing this.