Monday, October 08, 2012

Budget Deficits - by the Numbers Chart

- Instapundit at PJMedia
When the President says he inherited a mess from Dubya, he's right. No one disputes that.
But that is apparently where the truth serum runs out.
Note that the 08 peg is when the Toxic Assets Relief Program
happened.  This was when all those risky mortgage instruments blew up.  Why all that junk instruments came to be is another issue.. traceable directly to Democrats, Barney Frank, for one.

If you're like me, you wanted TARP because we weren't sure how damaging the financial failure might be.  It DID take down several large banks.. and maybe it SHOULD have have taken down more.
The '00 number is the culmination of the 'Tech Bubble' as it burst, leading to a mini-recession even prior to 9/11.
And no matter who had been elected in '08, the first few years would have been deep in the red,  especially since McCain doesn't really have a clue when it comes to economic matters.
But blaming the current situation on Iraq?  Pretty much any finance/economist can easily blow that out of the water.  The current deficits stem from safety net entitlements and subsidy expenditures.  The former, you cant do much about in real time.
The 'Stimulus'.. It aint stimulating because it is not generating business activity.  This especially applies to 'Green Energy' where, time after time, those companies receiving the gifts then go belly up shortly after.
Coincidently most of these companies owned or managed by campaign fund bundlers.  Solyndra is only a typical example.
Here's a smaller fish, but with the same smell.

Abound Solar under investigation by Weld County district attorney; received $68 million stimulus

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