Let's be clear about this graph:
First, it's for fiscal years and not calendar years. The Fiscal year ends on Sept. 30th.
Between Bush and Obama, Bush was mostly responsible for the deficit in 2009. The revenue loss and TARP were on him and not Obama. The "Stimulus" accounted for "only" $155B of the deficit that fiscal year. By far the biggest single contributor to the deficit was a loss of revenue, $624B. TARP was $184B in FY09.
Now this is not to absolve congress, the banks, Republicans, Democrats, etc. etc. It's just to say that pinning FY09's deficit on mostly Obama and holding Bush innocent is incorrect.
All the facts and figures can be found here: http://www.freerepublic.com/focus/f-chat/2763628/posts
Presidents come and Presidents go, but Congress is always there just like an unemployed brother-in-law. Compare the deficits under the Republican and Democrat Congressional majorities:
posted on 12/07/2011 5:07:35 AM PST
(The only borders Obama has closed is a bookstore.)
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