Now we know how much of deficit is Obama's

From NOR: "What's Inside the Deficit?" [Veronique de Rugy]

"As you know now, the deficit for FY2009 has reached $1.4 trillion, or 9.9 percent of the GDP. It's the biggest deficit since the end of World War II. In Washington, a common explanation is that the recession produced the deficit. As if that makes it okay. But look that this chart.

"To be sure, the recession caused lower than expected tax revenue — $419 billion lower. But the bulk of the deficit is made of spending. A lot spending since it amounts to a $1trillion: $459 billion of the deficit came from spending decisions made in the years preceding 2009; $245 billion are due to the financial bailout and $347 billion are mainly stimulus spending.

"Why does this matter? Because we have no idea what such big deficits, sustained over so many years, will do to our economy. Remember that for each of Obama’s years in office, the deficit is projected to be larger than any year during Bush’s terms. That's unprecedented..."

DP: We all agree: $459 bn is Bush/previous Congress (which was...Democrat including an Illinois Senator Obama, right?); $245 bn from TARP/bailout passed under Bush with, again, a Democrat Congress (Obama voted for it so he owns part of that also); finally, the $347 bn stimulus is all Obama, all Democrat Congress. Revenue shortfall is, shall we say, no one's fault--sh-t happens.

Bottom line: Bush and Dem Congress share deficit, TARP; Obama/Dems own the stimulus. The winner for responsible for the most debt: Obama and Dems.

http://corner.nationalreview.com/post/?q=NGZlNTE3ZjllZGM1ODIxOGQwYjgxYTFjOTE0ZjE0YTQ=