Sunday, June 14, 2009

The $2 Trillion Swing

When Bill Clinton exited office, he left behind a hefty $850 billion budget surplus. Enter GW and a GOP-controlled Congress and it didn't take long for that surplus to vanish.

The deficit is now projected to be $1.2 trillion and this chart breaks down how much of that shortfall is on Obama's head, versus GW.

Of the $2 trillion swing in good fortune, it appears to me that Obama is responsible for just about $200 billion, or 10%. Remember that figure the next time you hear a Republican bemoaning spending and deficits.

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