Cost of policy changes under Bush and Obama

There's a very interesting graphic here that makes a point more people should know: Policies introduced under President Obama are projected to have a total net cost of $1.44 trillion over fiscal years 2009-2017.

For comparison, policy changes under his predecessor, President George W. Bush, cost a total of $5.07 trillion over fiscal years 2002-2009.

Bush's tax cuts alone, mainly benefiting the rich, cost $1.812 trillion. Obama's tax cuts, enacted as part of the stimulus, added another $0.425 trillion. (While Obama has proposed increasing taxes on the amount of taxable income in excess of $250,000 for couples and $200,000 for individuals -- restoring only at that level the marginal tax rates in effect in the 1990s during the longest period of economic expansion in American history -- no such tax increase has been adopted.)

Here's an interesting article from Bloomberg pointing out that Republican Leaders are on record voting for things that have sharply increased the national debt, including spending increases they've tried to blame on President Obama.

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Cost of policy changes under Bush and Obama — 1 Comment

  1. Pingback: What factors have increased the U.S. national debt? | D Gary Grady

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