The big increases began with Ronald Reagan who, like Franklin Roosevelt, was elected on a platform of stopping his predecessor's reckless spending. Nearly 24 percent of our current debt comes from his presidency. George H.W. Bush contributed another 13.6 percent and Bill Clinton added 4.8 percent.Well, there you go. Republicans like to call Democrats the party of tax and spend. Sorry, the facts don't support that. Even if they did, at least Democrats pay for spending instead of irresponsibly saddling our kids with the bill. Lotterman has proved that Republicans are the party of borrow and spend.
George W. Bush is the champ, however. More than 36 percent of the total came from deficits between his first budget year, fiscal 2002, and February 2009.
Tuesday, February 24, 2009
Party of big spenders? GOP
Economist Ed Lotterman crunched the numbers, and found that "the three most recent Republican presidents oversaw deficits equal to nearly 74 percent of our debt," thereby debunking the myth that the Republican party is the party of less government spending.