What Obama Inherited…

4 Jan

Democrat Deficit Financing…

And since 2007, Congress has either been fully controlled, or mostly subverted by Pelosi and Reid…things were going reasonably well until they were elected.  Things started going south right after the Pelosi Congress was sworn in…

https://i1.wp.com/cdn.pjmedia.com/instapundit/wp-content/uploads/2012/12/bushchart.jpg

The deficit WAS being paid down in both 2005 and 2006, (yes, before the Pelosi congress came in, in 2007), and why?

Because unemployment was low, people were working and that meant tax revenues were approaching record heights, and the deficit was being paid down.

This is confirmed by none other than the “paper of record.”

2005: “Sharp Rise in Tax Revenue to Pare U.S. Deficit.”
2006: “Surprising Jump in Tax Revenues Is Curbing Deficit.”

I reminded folks about this in 2010, when the Democrats and the NY Times seemed to have forgotten same.

it can’t be reminded enough. 🙂

Instapundit

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