A new report from the New York Times attempts to answer the questions – how did our economy get to this point? And where did this massive deficit come from? The report took the spending habits of the last president, and compared them to those of President Obama, from his inauguration in 2009 and projected through 2017, and interestingly, despite what Republicans and Conservatives think, George Bush still out-spent Barack Obama by more than 2 to 1.

When President Clinton left office in 2001, George Bush inherited a surplus, one that was projected to be over a trillion dollars for the next decade if the Clinton policies remained in effect. The chart below, which took information from The Congressional Budget Office and The Center on Budget and Policy Priorities, tells the story of George Bush and his spending ways, and how he turned a surplus into a deficit beginning in 2002, and how that deficit grew each year until he left office in 2009.

  • The Bush wars in Afghanistan and Iraq, along with Defense – $1.5 Trillion added to the deficit.
  • The Bush Tax Cuts – $1.8 Trillion added to the deficit.
  • Non-Defense Discretionary spending under George Bush – $608 Billion added to the deficit.
  • Bush Tarp and other Bailouts – $224 Billion added to the deficit.
  • Bush’s Medicare Drug Policies – $180 Billion added to the deficit.
  • Bush’s Stimulus and other spending – #773 Billion added to the deficit.

All in all, George Bush took an actual surplus of $127 billion in 2001, and turned it into a deficit of $319 billion in 2005. His total in new spending equaled over $5 trillion. This figure dwarfs the $1.44 trillion in new spending President Obama is expected to make through two terms ending in 2017.
It should be noted that the biggest spending spree George Bush and the Republicans went on, according to these figures from the Congressional Budget Office, were the Bush Tax Cuts. The New York Times report puts it this way; “If all of them [Bush Tax Cuts] expired as scheduled at the end of 2012, future deficits would be cut by about half, to sustainable levels”.
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Ezra Grant

EzKool Blogger at EzKool Media Group
I'm just tired of the lies and nonsense coming from the GOP, so this is my little contribution to combat the nonsense!
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  • Truth_Wins

    Just a question: The deficit was $319 billion in 2005? Or should it read 2008?
    “All in all, George Bush took an actual sur plus of $127 billion in 2001, and turned it into a deficit of $319 bil lion in 2005.”

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  • BBZB

    Wow this is so biased its not even funny. Bush was definitely a trud, but this is so blind it almost dangerous.

    I like how “Defense” is lumped in with the wars, and how they give Bush credit for passing TARP when it has Obama’s signature on the bill.

    And aren’t we in ANOTHER war right now.. oh wait, its not a war if you call it something else and you don’t get credit for continuing someone else’s war when you said you would stop it.

    And is he seriously predicting the next 6 years of spending decisions.. LOL, Bush was an asshole, but come on.

  • Ezra Grant

    Exactly!

  • clonan

    Read the article…

    1.44 is the estimate assuming Obama is re-elected and stays in office till 2017.

    In addition, the article discusses new policies. Obama created ‘Obama care’ therefore he gets the cost/benifit. Bush created the Iraq and afganistan wars therefore he gets the costs. Even though it will be Obama that ends them, Obama won’t get credit for the cost reduction in this graph.

    As far as the health spending, it is currently estimated to MAKE almost a quarter trillion in it’s first 10 years. Obama care is a net revenue producer over prior policies. So I agree, where did the 187 billion in costs come from?

  • speak the truth

    umm, really? so the fact that obama has continued the wars in Iraq and even got a surge in Afghanistan are not a part of his spending? Where in the world did this stimulus spending number come from? And this health reform only costing 152 billion? Who are the whack jobs that came up with this chart? How about we compare apples to apples? But going by these numbers, $5 trillion over 8 yrs vs. 1.44 in 2 yrs? I’ll take 5 in 8 any day. Do the math.