President Barack Obama <a href=”http://blog.heritage.org/2009/03/25/the-ap-fact-checks-obama/
continues to claim that <a href=”http://www.politico.com/news/stories/0209/19124.html
his budget would cut the deficit by half by the end of his term. But as Heritage analyst Brian Riedl has pointed out, <a href=”http://conservativemeanderings.wordpress.com/2009/02/26/quick-observations-on-president-obama%E2%80%99s-budget/
given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious. <a href=”http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/
Earlier this week we ran a <a href=”http://www.washingtonpost.com/wp-dyn/content/graphic/2009/03/21/GR2009032100104.html
Washington Post graphic which helps put President Obama’s budget deficits <a href=”http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/
in context. Now we have produced our own graph that shows how Obama’s spending plans will double the national debt.
Heritage Analyst Brian Riedl <a href=”http://www.heritage.org/Research/Budget/bg2249.cfm
details how Obama accomplishes this feat:
- President Bush expanded the federal budget by a historic $700 billion through 2008. <a href=”http://www.heritage.org/Research/Taxes/wm1829.cfm
President Obama would add another $1 trillion.
- President Bush began a string of expensive financial bailouts. <a href=”http://www.heritage.org/Research/Budget/bg2249.cfm#_ftnref4
President Obama is accelerating that course.
- President Bush created a Medicare drug entitlement that will cost an estimated $800 billion in its first decade. <a href=”http://www.cnn.com/2009/POLITICS/02/25/budget.healthcare/
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. <a href=”http://www.heritage.org/Research/Budget/bg2249.cfm#_ftnref5
President Obama would double it.
- President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs. <a href=”http://www.heritage.org/Research/Economy/wm2276.cfm
President Obama has already increased this spending by 20 percent.
via: Heritage
