This came up in a side conversation the other night and comes up frequently. So…
Here are two analyses that make the rather obvious point: GW Bush’s policies are responsible for most of the recent increase in the federal budget deficit: about 40% of it. The recession (you know, the worst one in 60 years) is responsible for 20%. The bank bailouts, supported by Obama but begun by Bush in 2008 before the election, account for about 12%.
Obama’s policies? 16 percent.
The new, alarming CBO numbers? Misinterpreted by the media.
And, finally, like a broken record: The only way to bring down those huge deficits in the long-term is to reform our health care system to bring down costs. The. only. way.