Academic

CHART OF THE DAY: Deficits, With And Without The Iraq War. ?Do you see alarming deficits or trends?

By Glenn Reynolds

CHART OF THE DAY: Deficits, With And Without The Iraq War. “Do you see alarming deficits or trends from 2003 through 2007 in the above chart? No. In fact, the trend through 2007 is shrinking deficits. What you see is a significant upward tick in 2008, and then an explosion in 2009. Now, what might have happened between 2007 and 2008, and then 2009? Democrats taking over both houses of Congress, and then the presidency, was what happened. Republicans wrote the budgets for the fiscal years through 2007. Congressional Democrats wrote the budgets for FY 2008 and on.”

Full post as published by Instapundit.com on August 23, 2010 (boomark / email).