The Top Whopper: Bush is to Blame for the Debt
They say a lie can travel around the world before the truth gets its shoes on. But, sometimes, the truth gets hit in head with a shovel and that's why he is shoeless for so long.
One of the most egregious examples in recent years of the left clobbering the truth with a blunt object has been the assertion that the trillions in new debt that has accumulated since Barack Obama took office is primarily a result of the Bush Tax Cuts and the War on Terror.
Now, let's all pretend for a second that letting people keep more of their money in the form of tax cuts is equivalent to the government spending it. That is, after all, central to the left's argument.
The national debt is measured primarily in terms of how high it is, compared to our GDP.
When the Bush tax cuts and War on Terror went into effect, the debt as a dollar amount rose, but as a percentage of GDP it remained fairly stable. It was only when the financial crisis hit that the debt exploded. So, it's not mathematically possible that policies that were put into place nearly seven years prior to the debt exploding, could be responsible for its rise.
The left is simply cherry-picking the policies--expenditures in their minds-- that it likes the LEAST, from the time prior to Obama taking office and using them to deflect the blame away from things like the stimulus, the growth of welfare spending and the failure of liberal economic policies to stimulate economic growth.
Think about it this way. The amount of money taken out of the general fund each year to pay for Medicare, Medicaid and Social Security is more than the cost of any one year of the Bush Tax cuts or the was in Iraq and Afghanistan when they were at their peak.
By the left's standards, you could pin just as much blame for the debt increase on the presidents who passed those entitlement programs. But, you don't hear President Obama pinning the blame on LBJ or FDR for the $5 Trillion in new debt that we've accumulated since he took office.