To hear the WSJ tell it (link) the economy was minding its own business and everything was great until Pelosi and Obama decided to spend every dime we have on stuff they don't care about.
We've never fretted over budget deficits, at least if they finance tax cuts to promote growth or spending to win a war. But these deficit estimates are driven entirely by more domestic spending and already assume huge new tax increases.
I guess they forgot that W. left the new President a steaming pile of junk and an economy about to crater.
I guess they forgot about the years the Republicans controlled Congress and never met a spending program/weapons system/war/invasion/tax cut they wouldn’t support.
Are there things I wish Obama would do differently? Sure there are. But to forget eight years of mismanagement and then throw up a headline like this one reminds me why I don’t read this rag – especially their editorials.
“increased” the deficit was by putting the 2 wars on the books instead of as some weird emergency supplemental. Some of this deficit increase under O is just honest accounting.