The Weekly Standard:Obama Vs. Bush On Debt
... Bush ran up an average of $410 billion in deficit spending per year, while Obama is running up an average of $1.413 trillion in deficit spending per year — or $1.003 trillion a year more than Bush.
Obama, of course, has said the economy made him do it. But the average inflation-adjusted deficits through Obama's first two fiscal years will be more than ten times higher than the average inflation-adjusted deficit during the Great Depression. Even as a percentage of the gross domestic product, the average deficits in Obama's first two fiscal years will more than three times higher the average deficit during the Great Depression. The fact that Obama's deficits have, by any standard, more than tripled those of the Great Depression, cannot convincingly be blamed on the current recession. . . .
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