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Obama’s and Bush’s effects on the deficit in one graph
Washington Post ^ | 7/25/2011 | Ezra Klein

Posted on 08/07/2011 1:53:18 PM PDT by MsLady

What’s also important, but not evident, on this chart is that Obama’s major expenses were temporary — the stimulus is over now — while Bush’s were, effectively, recurring. The Bush tax cuts didn’t just lower revenue for 10 years. It’s clear now that they lowered it indefinitely, which means this chart is understating their true cost. Similarly, the Medicare drug benefit is costing money on perpetuity, not just for two or three years. And Boehner, Ryan and others voted for these laws and, in some cases, helped to craft and pass them.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy; Government
KEYWORDS: bush; bushsfault; obama; spending
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To: MsLady

A made-up tax cut amount as an “expenditure”?

What a fool. What a clown.


61 posted on 08/07/2011 4:21:04 PM PDT by Dr.Deth
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To: MsLady

Every Washington policy is measured and evaluated on how much it will cost to government or how much it will impact deficit. Why not measure them on how much they will cost to private sector and tax-payers? Because each of Obama’s initiative and policy costs tons to the private sector - that should be the true litmus test of any government policy and regulation.


62 posted on 08/07/2011 4:23:31 PM PDT by kp2hot
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To: All; Siena Dreaming; delapaz

They should be called the Bush-Obama tax cuts. Obama could’ve let them expire. He didn’t.


63 posted on 08/07/2011 5:32:01 PM PDT by newzjunkey (the circular firing squad has got to end now)
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To: MsLady

Tax cuts are an incurred debt. okaaay.


64 posted on 08/07/2011 7:39:15 PM PDT by TradicalRC (Charity and morality are inseparable.)
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To: Wuli

Thanks so much for the info. This will come in quite handy ;)


65 posted on 08/07/2011 8:44:55 PM PDT by MsLady (Be the kind of woman that when you get up in the morning, the devil says, "Oh crap, she's UP !!")
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To: Saltmeat

WOW, there is so much meat in the bible. I’ve read the bible over and over again and don’t remember seeing this tasty little treat, thanks ;)


66 posted on 08/07/2011 8:55:54 PM PDT by MsLady (Be the kind of woman that when you get up in the morning, the devil says, "Oh crap, she's UP !!")
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To: Wildbill22

When you start a new job and there’s a steaming bag of stink on the desk, it’s the prior occupant’s fault.
When it’s still there two years later, and accompanied by a couple more such bags, it’s not the prior occupant’s fault.


67 posted on 08/08/2011 8:38:08 AM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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To: MsLady
As promised, here are the numbers that I got from the Fed's website (numbers in billions - Year - Income tax revenue - Total revenues). Remember, the final tax cuts were passed in 2003 and took about a year to be fully implemented and have an affect on spending.

Last three years under Clinton

1998 - 1,017 - 1,721
1999 - 1,064 - 1,827
2000 - 1,211 - 2,025

Eight years under Bush

2001 - 1,145 - 1,991
2002 - 1,006 - 1,853
2003 - 925 - 1,782
2004 - 998 - 1,880
2005 - 1,205 - 2,153
2006 - 1,398 - 2,407
2007 - 1,533 - 2,568
2008 - 1,450 - 2,524

First two years under Obama

2009 - 1,053 - 2,105
2010 - 1,154 - 2,173

What I was amazed at was the difference in revenues between the Clinton years and after the Bush tax cuts. The media always says the Bush tax cuts reversed the "Clinton Surplus". In reality, the revenues were larger under Bush. Unfortunately, he had to deal with 911, the Iraq war, and he the congress implemented homeland security and put prescription drug benefits into medicare which made goverment spending skyrocket more than the increased revenues.

68 posted on 08/09/2011 4:53:38 AM PDT by Go Gordon (He's so bad, even the people from Kenya insist Obama was born in the USA)
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To: Go Gordon

Thank you so much, I’m going to post this to my fb page. So many dumbies out there and people who just plan don’t know anything when it comes to what’s going on. They will fall for anything unless they know the truth.


69 posted on 08/09/2011 5:09:33 AM PDT by MsLady (Be the kind of woman that when you get up in the morning, the devil says, "Oh crap, she's UP !!")
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To: Go Gordon

Oh, can you provide a link for me to post on my fb from the Fed’s website please?


70 posted on 08/09/2011 5:12:35 AM PDT by MsLady (Be the kind of woman that when you get up in the morning, the devil says, "Oh crap, she's UP !!")
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To: MsLady
"Ok, have at it. I know this is wrong, the numbers don't add up. One thing that's not shown Libyan war. I'm sure there is plenty more. The cost of the health care bill isn't fully shown."

Well right out of the gate, Tax cuts are listed as spending under Bush.

If My employer cuts my paycheck my accountant counts that as less income, not more bills.

71 posted on 08/09/2011 5:18:16 AM PDT by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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