To read the entire report go here:
Wednesday, January 6, 2010
No/Nothing Republicans created the deficits
The No/Nothing Republicans are quick to blame the Obama administration for the 2009 and future deficits. Turns out the Bush administration and No/Nothing Republicans are the ones responsible. Check out this chart from a report from the Center on Budget and Policy Priorities. The biggest cause of the current and future deficits are the Bush-era tax cuts and the economic downturn that was caused largely by Bush-era deregulation of the financial sector. Obama's stimulus and TARP, Fannie, and Freddie contribute in 2010/11 then become less important from then on. Bottom line No/Nothing Repubs, if you want to know who to blame for the financial mess and future deficits, look in the mirror and at the village idiot from Texas.