Obama is telling a half-truth and hoping Americans are too dumb or distracted to figure out the rest of the story.
- MARCH 26, 2009
Obama Points Back to the GOP’s Future
The president has made taxes and spending the big issues again.
By KARL ROVE
Last fiscal year, the deficit was $459 billion.
For this fiscal year, it was $569 billion when Mr. Obama took office.
Under his proposals, another $1.276 trillion will be added to the deficit this year, for a total of $1.845 trillion.
The CBO says deficits will fall for three years to $658 billion, still nearly 50% larger than any past deficit.
After that, deficits go back up every year, reaching the trillion-dollar a year mark again in nine years.
By 2019, the debt would reach 82.4% of GDP, a level not seen since 1947.
With astonishing candor, even Peter Orszag, the president’s budget director conceded these levels of deficits and debt are “unsustainable.”
(Also, Republicans need to stick to just one way of helping us to understand. The info the CBO put out last Friday stipulated that the deficit for FY 2009 will be 13.1% of GDP, for FY 2010 9.6%. FY 2008, the last year for which Bush is fully responsible, was 3.2%.
Then look at the historical data, look at the Bush and Clinton years. And looking even further back historically, one has to go all the way back to WWII years to see numbers this bad. I know we’re hurting, but things aren’t as bad as they were after Hitler invaded Poland and the Japanese bombed Pearl Harbor.
There is more than one way to look at these numbers, but if you tell us that 4-5% of GDP is not sustainable, then you tell us 82.4% is not sustainable (should be around 40%). Then Judd Gregg, who is my new hero says 23% is not sustainable (should be around 20%).
YOU’RE CONFUSING THE HELL OUT OF ALL OF US AND GIVING THE OPPOSITION AMMUNITION!!!
Just show them this chart (America can understand a chart) which is from the Washington Post.
Then show them a great big chart which goes all the way back to the 30s and 40s.
Or better yet show them a chart like the following one:
Obama won’t tell us the truth.
Please do a better job of presenting the truth.