Everyone thinks this huge deficit is Obama’s doing. For example, a letter in today’s San Jose Mercury News,
Deficit story should have been Page 1
The brief Associated Press story “October federal deficit is a record” (Page 9A, Nov. 13) should have been front-page news. And the headline should have read, “2009 federal deficit triples!” I used my calculator to figure that Obama’s $1.42 trillion annual deficit is three times Bush’s $462 billion. The fact that the deficit for just the month of October 2009 is a record $176.4 billion is a clear signal that Obama’s strategy is not working. We need to stop the insane spending and start to prime the pump of small business if we are to create jobs.
This was Bush’s last budget. A spending year that ends before January 21 can’t be the responsibility of a President who was only in office 9 months when the budget year wrapped up.
Obama’s only contribution to this deficit was that some, and only some, of the stimulus package had started to kick in.
A lengthy analysis showed that Obama’s policies contributed at most 7% to this deficit.