Posted by
Always To The Right on Wednesday, March 25, 2009 1:15:22 PM
Heritage
has some figures on deficit spending that should enlighten Obama and
his team about the “structural deficit” they inherited. While the
deficit jumped in the last year of the Bush administration, thanks to
the spending on the bailouts, deficits had declined since
2004 until then. Bush had structured his budgets to get back to
balance in the next few years — although without considering the huge
mandates in Medicare and Social Security.
Obama’s plans don’t count those mandates, either — but they blow up the deficit:
Not only does Obama quadruple the deficit this year, the long-term outlook shows them rising, not falling,
under Obama’s plans. Even the White House projections, using the
rosiest possible conditions, shows them increasing after never getting
down to the 2008 level. Even in 2013, the White House predicts a
budget deficit higher than Bush’s last year, and then increases in the
deficit steadily through 2019.
