Donald Douglas has a link to a graphic representation of President Obama’s budgetary plans.

From the Heritage Foundation:

President Barack Obama has repeatedly claimed that his budget would cut the deficit by half by the end of his term. But as Heritage analyst Brian Riedl has pointed out, given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious. The Washington Post has a great graphic which helps put President Obama’s budget deficits in context of President Bush’s.

What’s driving Obama’s unprecedented massive deficits? Spending. Riedl details:

  • 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.

It should be noted that, even using President Obama’s much rosier estimates, the deficits projected during his Administration are always larger than the largest deficit run under President Bush, with the exception of the FY2009 deficit run up due to the financial system bailout. Even there, only part of that deficit can be credited to President Bush. While he signed the $700 billion TARP program into law, half of it was held in abeyance until released by President Obama. And the $787 Porkulus Plan was entirely President Obama’s doing, and responsibility.

Further, our new commander-in-chief plans to cut and run withdraw from the war in Iraq by the summer of 2010, but his projected deficits for FY2011, 2012 and 2013, when we’d presumably be out of Iraq, are all greater than President Bush’s worst deficits with us fighting in Iraq.

And, of course, there’s the little matter of the difference between the Administration’s estimates and those of the Congressional Budget Office; more often than not, the CBO — which is supposed to be non-partisan — comes closer to the final figures than does the Administration, which has a political incentive to minimize the projections.

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