24Mar2009
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Bush Deficit vs. Obama Deficit in Pictures
- President Bush expanded the federal budget by a historic $700 billion through 2008. President Obama would add another $1 trillion.
- President Bush began a string of expensive financial bailouts. President Obama is accelerating that course.
- President Bush created a Medicare drug entitlement that will cost an estimated $800 billion in its first decade. President Obama has proposed a $634 billion down payment on a new government health care fund.
- President Bush increased federal education spending 58 percent faster than inflation. President Obama would double it.
- President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs. President Obama has already increased this spending by 20 percent.
- President Bush tilted the income tax burden more toward upper-income taxpayers. President Obama would continue that trend.
- President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.
via The Foundry
