NY Times: How trillion dollar deficits were created.. A graphic view.

[Fumesucker]

I hope you find this graphic as illuminating as I have in coming to an understanding of how we have reached the point of truly astronomical deficits.

http://www.nytimes.com/interactive/2009/06/09/business/economy/20090610-leonhardt-graphic.html

[maxsolomon]

1. Only 1 conclusion can be drawn:

it's all the fault of the Clenis!

[tabatha]

2. This should be made into a video

and added to YouTube

[Historic NY]

3. so if * did nothing on tax cuts, & other BS we would have been okay.

[Fumesucker]

5. Apparently that would be the case..

Without bushie's screwups we certainly would be in much better shape than we are currently.

[progressoid]

4. The related article is pretty good too:

There are two basic truths about the enormous deficits that the federal government will run in the coming years.

The first is that President Obama’s agenda, ambitious as it may be, is responsible for only a sliver of the deficits, despite what many of his Republican critics are saying. The second is that Mr. Obama does not have a realistic plan for eliminating the deficit, despite what his advisers have suggested.

The New York Times analyzed Congressional Budget Office reports going back almost a decade, with the aim of understanding how the federal government came to be far deeper in debt than it has been since the years just after World War II. This debt will constrain the country’s choices for years and could end up doing serious economic damage if foreign lenders become unwilling to finance it.

Mr. Obama — responding to recent signs of skittishness among those lenders — met with 40 members of Congress at the White House on Tuesday and called for the re-enactment of pay-as-you-go rules, requiring Congress to pay for any new programs it passes.


more...

http://www.nytimes.com/2009/06/10/business/economy/10leonhardt.html?_r=1

[Fumesucker]

6. You're right, I forgot to mention the article..

I was kind of rushed yesterday when I posted, people should read the article also.