Monday, August 23, 2010

Chart of the Day - Deficits With & Without Iraq War.

What does this chart from the American Thinker tell us?

1. The 7 year Iraqi War never really impacted our National Deficit.

2. Deficit spending under President Bush decreased 50% in 5 years.

3. Congressional Democrats ballooned the Deficit in just 3 Budget's.

4. Bush's Tax cuts almost balanced the budget, despite big spending.

We all know that President Bush was a spender, and that the Republican controlled Congress was more inclined to go along with his spending. But as you can clearly see in the chart above: That spending was not really impacting the deficit, Bush's tax cuts were filling the coffers of the federal government, and if it wasn't for Clinton's failed housing scheme, America would probably be in solid fiscal health at this moment.

What say you?

P.S. - You can tell Bush's tax cuts were filling the federal government's coffers by taking into account the increased spending, yet the decreasing deficit.

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