- The Foundry: Conservative Policy News from The Heritage Foundation - http://blog.heritage.org -

Bush Deficit vs. Obama Deficit in Pictures

Posted By Conn Carroll On March 24, 2009 @ 10:20 am In Ongoing Priorities | Comments Disabled

UPDATE: This graph is now over two years old. For up to date information see this post: The Truth about Obama’s Budget Deficits, in Pictures [1]

wapoobamabudget1

President Barack Obama has repeatedly claimed that his budget would cut the deficit by half [2] by the end of his term. But as Heritage analyst Brian Riedl has pointed out, given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious. [3] The Washington Post [4] has a great graphic which helps put President Obama’s budget deficits in context of President Bush’s.

What’s driving Obama’s unprecedented massive deficits? Spending. Riedl details:

UPDATE: Many Obama defenders in the comments are claiming that the numbers above do not include spending on Iraq and Afghanistan during the Bush years. They most certainly do. While Bush did fund the wars through emergency supplementals (not the regular budget process), that spending did not simply vanish. It is included in the numbers above. Also, some Obama defenders are claiming the graphic above represents biased Heritage Foundation numbers. While we stand behind the numbers we put out 100%, the numbers, and the graphic itself, above are from the Washington Post. We originally left out the link to WaPo. It has now been added.

CLARIFICATION: Of course, this Washington Post graphic does not perfectly delineate budget surpluses and deficits by administration. President Bush took office in January 2001, and therefore played a lead role in crafting the FY 2002-2008 budgets. Presidents Bush and Obama share responsibility for the FY 2009 budget deficit that overlaps their administrations, before President Obama assumes full budgetary responsibility beginning in FY 2010. Overall, President Obama’s budget would add twice as much debt as President Bush over the same number of years.


Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/

URLs in this post:

[1] The Truth about Obama’s Budget Deficits, in Pictures: http://blog.heritage.org/2011/07/28/the-truth-about-obamas-budget-deficits-in-pictures/

[2] his budget would cut the deficit by half: http://www.politico.com/news/stories/0209/19124.html

[3] given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious.: http://www.foundry.org/2009/02/26/quick-observations-on-president-obama%E2%80%99s-budget/

[4] Washington Post: http://www.washingtonpost.com/wp-dyn/content/graphic/2009/03/21/GR2009032100104.html

[5] President Obama would add another $1 trillion.: http://www.heritage.org/Research/Taxes/wm1829.cfm

[6] President Obama is accelerating that course.: http://www.heritage.org/Research/Budget/bg2249.cfm#_ftnref4

[7] President Obama has proposed a $634 billion down payment on a new govern­ment health care fund.: http://www.cnn.com/2009/POLITICS/02/25/budget.healthcare/

[8] Presi­dent Obama would double it.: http://www.heritage.org/Research/Budget/bg2249.cfm#_ftnref5

[9] President Obama has already in­creased this spending by 20 percent.: http://www.heritage.org/Research/Economy/wm2276.cfm

[10] President Obama would continue that trend.: http://www.heritage.org/Research/Budget/bg2249.cfm#_ftnref7

[11] President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.: http://www.heritage.org/Research/Budget/bg2249.cfm#_ftnref14

Copyright © 2011 The Heritage Foundation. All rights reserved.