The Deficit and Accounting Tricks

It is easy to forget over the last four years how bad a President George W. Bush was and how complicit the Republican White House and Congress was in poor governance. This is from 2009;

For his first annual budget next week, President Obama has banned four accounting gimmicks that President George W. Bush used to make deficit projections look smaller. The price of more honest bookkeeping: A budget that is $2.7 trillion deeper in the red over the next decade than it would otherwise appear, according to administration officials.

The new accounting involves spending on the wars in Iraq and Afghanistan, Medicare reimbursements to physicians and the cost of disaster responses.

The Republican Party likes to blame the Democrats as tax and spend but under the Presidential stewardship of Democrats the record and data pretty much says the opposite. The best President it turns out is Truman, then Eisenhower, Clinton, Johnson and Kennedy. The bottom of the list is Obama, Bush Jnr, Bush Snr, Reagan, Reagan and then Bush Jnr again.

Obama got the raw end of the stick there as he inherited an economy newly in collapse and as the article above mentions, started more honest book keeping with the budgets, than what the Bush Administration had been doing. I do not know if the economist graph takes that into account.

It is easy to forget how dishonest and politically cynical the Bush Administration along with the Hastert and DeLay Congress was. Then again McConnell's Senate and Boehner's House has followed on in that manner and will most likely continue to do so if Obama wins a second term.
cam 2012-11-05 18:03:17.0