Obama Kept His Promise: No More Bush Deficits

A Final, Pre-Election Review of ObamaNomics (3)

On Friday the Treasury Department published it’s final report for the government’s 2010 fiscal year, ending September 30.Obama Deficits

During his presidential campaign, Barack Obama denounced the Bush Administration every day for “irresponsible deficits.”  This message resonated with many Republican voters and with the people who are now Teaparty activists.  The Republican had party had already lost control of Congress after much of its Conservative base declined to vote in the 2006 election.

Obama’s campaign web site included this attack on Senator McCain:

McCain Offers Four More Years Of Soaring Deficits. Just like George Bush, McCain budget plan offers four more years of soaring deficits…the non-partisan Tax Policy Center said McCain would add $3.2 trillion to the debt over the next decade…

We now know that a $3.2 Trillion increase in the debt over a decade would have been a bargain!

  • The Treasury Dept. made it official Friday:  Obama and the Democratic Congress have added $3.6 Trillion to the debt in just two years.
  • During his first two years Obama spent 34% more than Bush spent during his last two years.
  • The President and the Democrats often blame military operations in Iraq and Afghanistan for all the red ink.  But in 2010 those operations cost a total of $171 billion or 5% of spending and 13% of the deficit.


2 Comments so far

  1. Bob Connors on October 16th, 2010

    Bush left structural deficits due to unfunded wars.

  2. Drew on October 18th, 2010

    “Bush left structural deficits due to unfunded wars.”

    That’s interesting. Those wars have been going on for years now, yet its only when Obama came on board that they exploded.