Bush Deficit vs. Obama Deficit

The Heritage Foundation presents the Bush Deficit vs. Obama Deficit in a very visual form. There is no possible way that this disaster can be justified on the basis of the present financial crisis. Perhaps a substantial budget deficit in fiscal year 2009 can be supported in order to jump start the economy.

That cannot be argued for years beyond that. This is not about the financial issues, but an attempt to expand the government to an extent undreamed of before now. The financial crisis merely provides cover for what Obama and the Democrats wanted to do anyway.

The deficit in each year exceeds the worst year during the Bush administration. This country simply cannot sustain that level of budget deficits for so many years. China has already signaled that they will not continue to finance American profligacy.

This approach will likely generate inflation beyond even the years of the Carter administration.