The Progress Report from the Center for American Progress reminds us who was responsible for the rise in the national debt and federal budget deficits Republicans are now using to threaten a default on the national debt (hint: the policies have an elephant tinge to them).

As this graphic from the Center on Budget and Policy Priorities illustrates: "without the economic downturn and the fiscal policies of the [Bush] Administration, the budget would be roughly in balance over the next decade.”

Tax Cuts, Wars Account for Nearly Half of Public Debt by 2019

Leave a Reply