When the Center For American Progress’ best spin blames only 35% on Bush then you know it’s pretty much all Obama’s doing.
(Washington Examiner) — Most of the soaring $1 trillion federal deficit is the blame of President Obama’s spending and political deals according to a pro-Obama think tank that pegged former President George W. Bush’s responsibility at just 35 percent.
While opening its analysis by blaming Bush and showing pictures of Senate GOP leaders, the Center for American Progress said that the other 65 percent of the deficit surge came on Obama’s watch, a combination of high spending, extension of the Bush tax cuts and additional defense spending.
“The analysis reveals that events that occurred before January 2009, including the onset of the Great Recession and increased spending—especially on the wars in Afghanistan and Iraq—attributed to 35 percent of the swing from surplus to deficit,” said the center founded by long-time Obama advisor John Podesta.
“The remainder of the deterioration did happen after 2009, but mostly because of lower-than-expected revenues. While some of the decline in revenue resulted from the continued economic weakness, the majority of it, about $335 billion, is the direct result of the tax deal signed into law in December 2010, which extended all of the Bush tax cuts,” said the group.