For those that continue to say, "Well, Bush spent a lot during his presidency!", a little perspective from Greg Mankiw:

Before you read this story, here is one number you need to know: the U.S. federal government’s debt is now about $7.4 trillion. That is the accumulation from past budget deficits.

With that number firmly in mind, here is a story from the Washington Post about the path of future fiscal policy:

The nation would be forced to borrow more than $9 trillion over the next decade under President Obama’s policies, the White House acknowledged late Friday, bringing their long-term budget forecast in line with independent estimates.

The projection is that in 10 years we’ll more than double the debt our country has accumulated up to this point.  Dubya and the Republicans continues to look more and more like coupon-clipping penny-pinchers compared to Obama and the Democrats. 

Or, if you prefer automobile analogies:

Related posts:

  1. It’s All Just Temporary Spending
  2. For Perspective
  3. How Willing Are We To Really Cut Spending
  4. Cut Defense Spending?

Filed under: Economics • Government

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