It Wasn’t Bush’s War For Oil That Bankrupted America, It Was Democrats

[bugscoe]

Another Lie Exposed… It Wasn’t Bush’s War For Oil That Bankrupted America, It Was Democrats
Posted by Jim Hoft on Monday, August 23, 2010, 9:52 AM

So will the state-run media ever report this news?
It wasn’t Bush’s War for Oil that bankrupted America. It was democrats.

American Thinker reported:

The Iraq War cost $709 billion. Why Carville, Bilmes, and Nobel-winning economist Stiglitz thought the answer was $3 trillion is anybody’s guess. But what’s a 323% error among friends?

The CBO breaks that cost down over the eight calendar years of 2003-2010. Below is a picture of federal deficits over those years with and without Iraq War spending.

…Do you see alarming deficits or trends from 2003 through 2007 in the above chart? No. In fact, the trend through 2007 is shrinking deficits. What you see is a significant upward tick in 2008, and then an explosion in 2009. Now, what might have happened between 2007 and 2008, and then 2009?

Democrats taking over both houses of Congress, and then the presidency, was what happened. Republicans wrote the budgets for the fiscal years through 2007. Congressional Democrats wrote the budgets for FY 2008 and on. When the Democrats also took over the White House, they immediately passed an $814-billion “stimulus.”

 

[cstfx]

Look at those numbers - take out the war and scale back some of those tax breaks and we would have been paying down this debt instead of adding to it.

 

[hermit]

Quote from bugscoe:

Another Lie Exposed… It Wasn’t Bush’s War For Oil That Bankrupted America, It Was Democrats
Posted by Jim Hoft on Monday, August 23, 2010, 9:52 AM

So will the state-run media ever report this news?
It wasn’t Bush’s War for Oil that bankrupted America. It was democrats.

American Thinker reported:

Err, it wasn't just the war - Bush tax cuts, Medicare Part D, TARP - ring a bell?

http://www.politifact.com/truth-o-m...obama-inherited-deficits-bush-administration/

 

[Hello]

Quote from hermit:

, TARP - ring a bell?

http://www.politifact.com/truth-o-m...obama-inherited-deficits-bush-administration/

Majority of TARP paid back, high estimates suggest 100 billion wont be paid back, the corporations/jobs saved by tarp pay well over 100 billion a year in taxes so nice try. Also notice that the tax cuts were starting to pay for themselves as the deficit was shrinking until the dems took over and blew it up from 2008 onward.

 

[hermit]

Quote from Hello:

Majority of TARP paid back, high estimates suggest 100 billion wont be paid back, the corporations/jobs saved by tarp pay well over 100 billion a year in taxes so nice try. Also notice that the tax cuts were starting to pay for themselves as the deficit was shrinking until the dems took over and blew it up from 2008 onward.

TARP is a small part of it, its not on the chart by itself.

What about Medicare Part D between, thats hundreds of billions by itself, any repeal initiatives?

"Projected net expenditures from 2009 through 2018 are estimated to be $727.3 billion"
http://www.cms.hhs.gov/ReportsTrustFunds/downloads/tr2009.pdf

What exactly did the Dems blew money on? Which legislations they passed caused the deficit to explode?