Liberal free for all coming to an end

[randolph]

Originally Posted by TracyCoxx

I think your chart is missing a few items for Obama. Here's a bailout tracker with a total of $11 trillion in bailouts. $700 billion is Bush's. Wouldn't the rest be Obama's?
http://money.cnn.com/news/storysuppl...ailouttracker/

Yes that chart does look suspicious. Here is some explanation.

From NY Times

A few lessons can be drawn from the numbers. First, the Bush tax cuts have had a huge damaging effect. If all of them expired as scheduled at the end of 2012, future deficits would be cut by about half, to sustainable levels. Second, a healthy budget requires a healthy economy; recessions wreak havoc by reducing tax revenue. Government has to spur demand and create jobs in a deep downturn, even though doing so worsens the deficit in the short run. Third, spending cuts alone will not close the gap. The chronic revenue shortfalls from serial tax cuts are simply too deep to fill with spending cuts alone. Taxes have to go up.
In future decades, when rising health costs with an aging population hit the budget in full force, deficits are projected to be far deeper than they are now. Effective health care reform, and a willingness to pay more taxes, will be the biggest factors in controlling those deficits.

Gulp!