Swans on Tea

America’s Sea of Red Ink Was Years in the Making

Breaking down the $2 trillion in deficit since 2000. For all the hysteria about recent events, I find this tidbit interesting (summarized in this graphic):

About 7 percent comes from the stimulus bill that Mr. Obama signed in February. And only 3 percent comes from Mr. Obama’s agenda on health care, education, energy and other areas.

If the analysis is extended further into the future, well beyond 2012, the Obama agenda accounts for only a slightly higher share of the projected deficits.

Obama doesn’t get a free pass, though.

“Bush behaved incredibly irresponsibly for eight years. On the one hand, it might seem unfair for people to blame Obama for not fixing it. On the other hand, he’s not fixing it.”

“And,” he added, “not fixing it is, in a sense, making it worse.”