Record Deficits For Incoming President

July 28, 2008 at 10:07 am | Posted in American politics | 1 Comment

George W. Bush will leave his successor record deficits. Meanwhile Bill Clinton left his successor a budget surplus.

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  1. Atrios has an article from 2003 about what we should have expected from the Bush administration now, in 2008 as he is preparing to leave office:

    (AP) President Bush’s goal of cutting in half a projected $500 billion federal deficit within five years is being dismissed as too timid by conservatives, unachievable by analysts and laughable by Democrats.

    Mr. Bush will include the objective in the $2.3 trillion budget for 2005 he sends Congress in February, nine months away from the presidential and congressional elections. The goal is backed by many Republicans, but conservatives want a bolder move against the record deficits and big spending increases the administration has run up.

    Not a very good legacy. And of course, those numbers do not include the hundreds of billions for the wars in Iraq and Afghanistan put on credit cards for our children to pay. Nice legacy.

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