RNC 2012: The GOP’s Confusion and Lies About the Debt
“The debt has increased by just 41.4 percent during the first several years of the president’s term, from around $10 trillion to $15 trillion. Ronald Reagan, on the other hand, presided over a near-doubling of the debt, increasing the number by 188 percent. Bush 41 presided over a 55.6 percent increase, and Bush 43 presided over an 89 percent increase. At the same time, the year-over-year increase in the debt under President Obama has dropped from 15 percent to 4 percent. The president also cut the deficit from $1.4 trillion in his first year to $900 billion in 2013 (projected by the CBO) — and it’s worth noting that $1.2 trillion of the 2009 deficit was inherited from a George W. Bush spending request in 2008.”
Amazing analysis being peddled by the left. Notice how there’s no revenue figures as if the Bush or Reagan tax cutes didn’t generate far more revenue than they cost. Dems don’t understand this fact and historical record that lower taxes mean higher revenues. Even Obama recognized this but he doesn’t care because it isn’t fair, according to him.