So how did we get from a budget surplus at the beginning of George W. Bush’s presidency to deficits and debt as far as the eye can see? Here’s a quick timeline: the Bush tax cuts (2001), 9/11 and the Afghanistan war (2001), the Iraq war (2003), more tax cuts, the unpaid-for Medicare prescription-drug benefit (2003), the financial collapse and economic downturn (2008), the Obama stimulus (2009), and the two-year extension of the Bush tax cuts (2010). Then you add the aging Baby Boomers to the whole mix. Back in 2009, the New York Times calculated that 37% of the deficits were due the economic downturn, 33% were due to Bush’s policies, 20% were due to Obama’s extensions of Bush’s policies, and another 10% were due to Obama’s policies like the stimulus.
Bush tax cuts, Bush wars, more Bush tax cuts, Bush’s Medicare plan, Bush’s financial collapse. Do we sense a common thread here?
Let’s add all that up:
37% of the deficits started during Bush’s term + 33% to Bush’s policies + 20% due to Bush policies that Obama continued = 90% Bush policies.
10% were due to Obama’s own policies.
Of course, according to Jon Kyl, 90% = 3%, so Bush is only 3% responsible for the mess we’re in.
And that was not intended to be a factual statement.