There is an interesting article over at HuffPost about how the extended Bush tax cuts have resulted in a loss of $11.6 million per hour in tax revenues for our country. Check it out: Cost of Bush Tax Cuts
Teapublicans in Congress have blocked any attempt to raise revenues during these tough times 'cuz Grover will slap 'em down if they allow the rich to be taxed. All of the Teapublican candidates constantly claim President Obama is "running up the debt."
Well stick this in their faces:
National Debt Increased by 75% under Bush:
2001 - $5.871 trillion
2008 - $10.640 trillion
National Debt Increased 25% Under Obama:
Jan 31st 2009 = $10.569-trillion
Jan 31st 2011 = $14.131-trillion
But of the $3.56-trillion increase, 98% was carry over from Bush programs:
Bush: $910-billion = Interest on Debt 2009/2011
Bush: $360-billion = Iraq War Spending 2009/2011
Bush: $319-billion = TARP/Bailout Balance from 2008 (as of May 2010)
Bush: $419-billion = Bush Recession Caused Drop in taxes
Bush: $190-billion = Bush Medicare Drug Program 2009/2011
Bush: $211-billion = Bush Medicare Part-D 2009/2011
Bush: $771-billion = Bush Tax Cuts 2009/2011
Bush's contribution:
2001 to 2008: $4.769-trillion
2009 to 2010: $3.181-trillion
Total: $7.950-trillion
Increase Since 2001 = $14.131 - $5.871 = $8.26-trillion
Bush's contribution: $7.950-trillion / $8.26-trillion = 96%
Increase caused By Bush's Programs: 96%
Increase caused by Obama's Programs: 4%
Considering the help for the auto companies that has kept millions employed plus a modest stimulus program.... the statistics again prove Democrats to be much better managers of the people's money. (Like - duh - we knew that but have to keep constantly reminding the opposition of how badly they handle the public funds.) Anyway - I just wanted to share that info with you all - comments?