Freedom Line Blog

How much longer will Obama’s escalating deficits still be blamed on Bush?

This week, the Treasury Department reported a $221 billion monthly deficit for February 2010, the largest ever.  This compares to a $194 billion deficit for February 2009, and the year-to-date 2010 deficit has now reached $652 billion, also an all-time high.  Consequently, the projected 2010 annual deficit now appears likely to exceed last year’s $1.4 trillion dollar record.

Obama continues to blame his budgetary irresponsibility on Bush, but at least when Bush was President we counted the deficit in billions, not trillions.  Further, the Treasury Department data points to the true culprit:  spending for February 2010 increased some 17% over February 2009 spending, to $328 billion.  That’s certainly not Bush’s spending.

To paraphrase the increasingly-popular bumper sticker, please don’t tell Obama what comes after “trillion.”