House Republicans Falsely Blame President Obama For Bush's Deficit

January 26, 2010 3:36 pm ET

On January 26, 2010, House Republicans posted an item on GOP.gov blasting President Obama's handling of the budget deficit. Specifically, they claim that the "record deficits are a direct result of the President's big-spending agenda." But in reality, President Bush's failed policies - which House Republicans supported -- are still playing a significant role. In fact, the 2009 deficit was projected to exceed $1 trillion even before Obama took office.

House GOP: "Record Deficits Are A Direct Result" Of Obama's Policies

GOP.gov:

Facing political fallout from this Administration's reckless spending spree, President Obama will reportedly use the State of the Union Address to focus on debt, deficits and spending. Despite efforts to spin the facts or blame the preceding Administration, a comparison of the fiscal situation when the Obama Administration took office reveals the truth. The nation's historic debt and record deficits are a direct result of the President's big-spending agenda. [...]

Another result of Obama's runaway spending is record breaking deficits for the next decade and beyond. Since Obama was inaugurated, the U.S. has had an average monthly deficit of $122.6 billion. By comparison, from the year 2000 until 2008, the average annual deficit was $196 billion. Unfortunately, the trend of increased federal deficits will not come to an end under the President's budget. According to the President's own estimates, his budget and spending plan will cause deficits to average $905 billion for each of the next ten years. Budget shortfalls incurred by the government fuel the rise in the nation's debt because the government is forced to borrow money to meet the shortfall. In 2009, the budget deficit was $1.4 trillion - the first time in history the deficit exceeded $1 trillion and the first time the deficit exceeded 10 percent of gross domestic product (GDP) since World War II. [GOP.gov, 1/26/10; emphasis added]

Before Obama Took Office, The Deficit Was Projected To Be $1.2 Trillion

Note: The FY 2009 deficit was $1.4 trillion.

Before Obama Took Office, The FY 2009 Deficit Was Projected At $1.2 Trillion. According to the Washington Times: "President-elect Barack Obama vowed Wednesday to tackle Social Security and Medicare spending as this year's deficit was projected to reach $1.2 trillion and with Congress preparing to run that figure even higher with its economic recovery package. [...] The Congressional Budget Office announced a projected fiscal 2009 deficit of $1.2 trillion even if Congress doesn't enact any new programs." The paper added: "About the only person who was silent on the deficit projection was Mr. Bush, who took office facing a surplus but who saw spending balloon and the country notch the highest deficits on record." [Washington Times, 1/8/09; emphasis added]