May 23, 2010 Leave a comment
It’s possible I’ve even posted this one before as a chart of the day (I’m too lazy to search through the archives at the moment), but even if I have, it’s worth showing again. Given all the grief Obama and Democrats are taking over the current budgetary situation, it’s important to remember how it is we got here. Short answer: Bush tax cuts and Bush wars. The numbers don’t lie. Here it is via Jonathan Chait (who fills it out with appropriately thorough commentary):
Notice that the Obama-added expenses are a major factor only in the very short-term and that the Bush tax cuts only grow as an explanatory factor.