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Fails: Obama's charge 90% of current deficit due to Bush
Posted By -NO AUTHOR- On 09/27/2012 @ 12:11 am In Money,Politics | No Comments
(Washington Post) “Over the last four years, the deficit has gone up, but 90 percent of that is as a consequence of two wars that weren’t paid for, as a consequence of tax cuts that weren’t paid for, a prescription drug plan that was not paid for, and then the worst economic crisis since the Great Depression. Now we took some emergency actions, but that accounts for about 10 percent of this increase in the deficit, and we have actually seen the federal government grow at a slower pace than at any time since Dwight Eisenhower, in fact, substantially lower than the federal government grew under either Ronald Reagan or George Bush.”
“Taxes are lower on families than they’ve been probably in the last 50 years. So I haven’t raised taxes.”
— President Obama, interview on CBS’s “60 Minutes,” recorded on Sept. 12, 2012, and aired on Sept. 23
There are a lot of numbers and assertions in these statements by the president. We will primarily focus on the first statement, since it raises interesting questions of presidential responsibility.
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