National Debt by President (from the Big Picture)

[swag]

http://www.ritholtz.com/blog/2010/05/national-debt-by-president/

I have been very critical of Obama for following Bush’s bankster bailout policies. And I thought his reliance on Robert Rubin & the RR Choir (Summers, Geithner, et. al) was ill advised.

But I don’t understand those on the far right who seem to believe that deficits were created on January 20th, 2009.

Consider this chart — it shows the National Debt as a percentage of GDP. Its pretty telling:

[zipplewrath]

1. Seen it before

It was much more telling before Obama had to bailout the world. It'd be nice if some how that could be adjusted before he leaves. A similar plot of DEFICIT would show it quicker.

[Warpy]

2. It's also a dishonest graph

since it assigns to Obama debt incurred by Stupid's administration and the TARP bailouts, in addition to Stupid's last budget that ran through October of that year.

Obama had been in office just over a month at that point. He hadn't had a chance to spend that much.

The stimulus package passed on Feb 15, which is undoubtedly why they ended the graph on the 27th.

But yes, those "conservative, small government" Republicans are all spendaholics, mostly because they've had Grover Norquist telling them that's the only way to end all the social programs while ignoring the major budget buster, the Pentagon.