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October 17, 2009

Final Bush Budget Year Ends - $1.4 Trillion Deficit

-- by Dave Johnson

Well the last Bush budget year just ended. So how did the Republican budgets do? When Bush took office we have a HUGE budget surplus - over $230 billion. Alan Greenspan warned that we were paying off the debt too quickly. Then came Bush and his tax cuts for the rich, and the Republican spending binge.

So now? Record-High Deficit May Dash Big Plans,

The federal budget deficit soared to a record $1.4 trillion in the fiscal year that ended in September, a chasm of red ink unequaled in the postwar era that threatens to complicate the most ambitious goals of the Obama administration, including plans for fresh spending to create jobs and spur economic recovery.

Update - Oh, look, Republican blogs are claiming that the budget for the fiscal year that ended in September is Obama's budget, even though he didn't even take office until January! That;s like how FOX News puts an R after a Democratic legislator's name when they do good things, or a D after a Republican's when another one gets caught lying about an affair.

Posted by Dave Johnson at October 17, 2009 2:52 PM


Comments

Please check your FACTS. The budget was held up by the Congress and signed once the new president was inaugurated. All Bush signed was a continuing resolution to allow the government to run without the budget passed. The government is currently running under a continuing resolution because the 13 budget bills have not been acted on by congress.

Posted by: madman [TypeKey Profile Page] at October 17, 2009 9:10 PM

and while the wingers are calling it the obama economy, they are calling the dow at 10,000 (which truth be told is meaningless to most americans) - the bush recovery

there is no limit to the stupidity and evil and lies of the right

Posted by: distributorcap [TypeKey Profile Page] at October 18, 2009 12:32 PM

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