Well the last Bush budget year just ended. So how did the Republican budgets do? When Bush took office we have a HUGE budget surplus – over $230 billion. Alan Greenspan warned that we were paying off the debt too quickly. Then came Bush and his tax cuts for the rich, and the Republican spending binge.
So now? Record-High Deficit May Dash Big Plans,
The federal budget deficit soared to a record $1.4 trillion in the fiscal year that ended in September, a chasm of red ink unequaled in the postwar era that threatens to complicate the most ambitious goals of the Obama administration, including plans for fresh spending to create jobs and spur economic recovery.
Update – Oh, look, Republican blogs are claiming that the budget for the fiscal year that ended in September is Obama’s budget, even though he didn’t even take office until January! That;s like how FOX News puts an R after a Democratic legislator’s name when they do good things, or a D after a Republican’s when another one gets caught lying about an affair.