Consider this when you hear the current administration still blaming Pres George Bush for our financial mess.
The so called ‘Bush Tax Cuts’ were passed in two bills. The first in 2001 was accelerated with the passage of the second bill in 2003. In 2004, when they were fully enforce, the deficit was $418 Billion. By the end of 2005 the deficit had dropped to $ 318 Billion; for 2006, down to $248 Billion and for the last year of President Bush’s term, 2007, it was $162 Billion.
By the end of 2008 it was back up to $410 Billion as a result of the recession.
Now look at the deficit at the end of obama’s first year in office: $1,400 Billion, aka: $1,400,000,000,000. A huge chunk of this was the $8,21 Billion stimulus bill, but even without this, it had bloomed to $579 Billion.
Most all agree now that the stimulus bill failed in its promised benefits.
Just so facts to dilute the ‘Blame Bush’ noise.