Bush vs, Obama Deficit in Picture

Here is a frightening picture of the projected federal deficit, courtesy the Heritage Foundation.

They go on to comment on one of my favorite themes - the continuation of the failed policies of the past (hint: not "free markets"):

• President Bush expanded the federal budget by a historic $700 billion through 2008. President Obama would add another $1 trillion.
• President Bush began a string of expensive finan­cial bailouts. President Obama is accelerating that course.
• President Bush created a Medicare drug entitle­ment that will cost an estimated $800 billion in its first decade. President Obama has proposed a $634 billion down payment on a new govern­ment health care fund.
• President Bush increased federal education spending 58 percent faster than inflation. Presi­dent Obama would double it.
• President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs. President Obama has already in­creased this spending by 20 percent.
• President Bush tilted the income tax burden more toward upper-income taxpayers. President Obama would continue that trend.
• President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.