Conservatism Lives!

Who “Inherited” What Deficit, Exactly?

-By The Reluctant Republican

President Obama is fond of blaming our budget deficit and ballooning national debt on his predecessor. Just about as often as he is given the opportunity, he claims that he “inherited” the deficit. While it may be true that he inherited “a” deficit, he certainly did not inherit our “current” deficit or certainly our projected future deficit. It doesn’t take a math genius to figure out that you can’t pass a $1 trillion “stimulus” bill (all borrowed money) followed days later by a $410 billion “omnibus spending” bill (also all borrowed money) and not have record deficits. The non partisan Congressional Budget Office released their analysis of the Obama budget a few days ago. The Washington Post was kind enough to publish the graph below (their story here). President Obama is beyond simple political “spin” here. Clearly, the man is just plain lying on this. Interesting side note as well. Both the CBO and Obama administration projections assume a strong economic recovery over the next few years. These numbers will be even worse if the recession lingers.

Tags: Budget Deficit