Now seems like a good time to remind ourselves of what caused our deficit.
Tax Cuts: Myths and Realities (Center on Budget and Policy Priorities)
Update: Another chart.
Bush-Era Tax Cuts Projected As Largest Contributor To Public
If the Bush-era tax cuts are renewed next year, that policy will by 2019 be the single largest contributor to the nation's public debt -- "the sum of annual budget deficits, minus annual surpluses" -- according to new analysis from the non-partisan Center for Budget and Policy Priorities.
Center for Budget and Policy Priorities
I don't have a lot to add to that right now. Though I saw this coming a long time ago, I'm pretty stunned at the events of the past week and the past two years for that matter.