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Permalink Reply by Pipeliner on July 1, 2009 at 10:27

Bush Leaving Next President $482 billion Federal Budget Debt.
From the Huffington Post (must be a rightwing blog site)

The government's budget deficit will surge past a half-trillion dollars next year, according to gloomy new estimates, a record flood of red ink that promises to force the winner of the presidential race to dramatically alter his economic agenda.

The deficit will hit $482 billion in the 2009 budget year that will be inherited by Democrat Barack Obama or Republican John McCain, the White House estimated Monday. That figure is sure to rise after adding the tens of billions of dollars in additional Iraq war funding it doesn't include, and the total could be higher yet if the economy fails to recover as the administration predicts.

For the complete article:

http://www.huffingtonpost.com/2008/07/28/bush-leaving-next-preside_...

Where is the extra deficit to make up a trillion dollars come from of the deficit you say Bush left ?

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Permalink Reply by Pipeliner on July 2, 2009 at 3:39

Hoyer Trots out the " Bush Deficit" Lie Again.

House Majority Leader Steny Hoyer told an audience at the University of Virginia that George Bush left Barack Obama with a $1.3 trillion deficit, and that pay-go would have stopped it. Hopefully, a few poli-sci majors will point out to their classmates the obvious factual deficiencies in this argument.

:Where to start with this foolishness? First, a civics lesson. In fact, Congress appropriates federal spending, not the President, in our system of government. The President can propose spending, but Congress makes the final decisions on appropriations and spending levels.
Now, a history lesson. Which party was in charge of Congress the last two years of the Bush administration? Why, yes, it was the Democrats. I have no problem blaming Republicans for runaway spending between 2001-6, but 2007-8 belongs to the Democrats, including Steny Hoyer, one of that party’s leaders. For that matter, it also includes then-Senator Barack Obama. Deficits in that period are on their hands.

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