Saturday, February 18, 2012

Obama budget director still blaming Bush for the deficits

At 9:32, ZIENTS: A lot of this is inherited. It's inherited from an administration that passed in '01 and '03 a tax cut that was unpaid for, a part D medicare - unpaid for, two wars - unpaid for, and then we walk in, as Congressman Van Hollen said, to a an economic situation which was the Great Recession.

Ryan points out that the Obama budget increases 1.5 trillion over ten years, with 1.9 trillion of additional taxes, so the debt over 10 years decreases only 400 billion from the baseline.

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