Obama's deficit deceit

Steve Moore:

During a recent press conference, President Obama blamed George W. Bush for the nation's fiscal condition. "When I walked in," he declared, "wrapped in a nice bow was a $1.3 trillion deficit sitting right there on my doorstep." Earlier this year he asserted that "we came in with $8 trillion worth of debt over the next decade."

Neither statement is correct, according to the Congressional Budget Office (CBO). True enough, the outgoing Bush administration bequeathed big deficits to Mr. Obama. The expected 2009 deficit was $1.19 trillion, not $1.3 trillion, however—and the actual deficit for 2009 came in at $1.41 trillion, meaning that the new president added some $220 billion to the total.

Far more significant, however, was the president's misstatement that Mr. Bush and the Republicans left the country with $8 trillion of debt over the next 10 years. The CBO's projected 10-year deficit when Mr. Obama took office was actually $4.09 trillion. Now, after 20 months of his presidency, the expected deficit has almost doubled, to $7.68 trillion.

A strong case can be made that the people most responsible for the gigantic deficits we face today are neither George W. Bush nor Barack Obama. The real culprits are Speaker of the House Nancy Pelosi and Senate Majority Leader Harry Reid.

Congress controls the purse strings. When Mrs. Pelosi and Mr. Reid rose to their present jobs in January 2007, the deficit was $161 billion. It had been on a downward trajectory from $413 billion in 2004. Three years later, the Pelosi-Reid Congress had added $1.2 trillion to the deficit.

...

Obama and Democrats act like we just woke up this morning from the Bush administration and they had nothing to do with spending over the last four years when they controlled Congress. I don't think the public is buying that and the failure of their big spending programs is causing people to turn away from them in droves for this election. They thought their big spending would be good for the economy and it has in fact had the opposite effect. If nothing else they have demonstrated that liberalism does not work.