two unfunded wars and cut & spend economics of the Bush era created the recession – and we're still paying for his folly. Bush inherited a balanced budget and had the reins for eight years. Funny how Republicans never remember that fact. They also never admit to Mitch McConnell's plan to obstruct progress in our recovery. The vast bulk of our deficit comes from the recession – Bush's legacy to America.

ltnet356 and Ind. OBVIOUSLY didn't read the article before commenting. From the article:

As a share of the economy, the deficit fell to roughly 7%, according to Congressional Budget Office estimates released Friday. That's down from 8.7% in 2011, and well below the bruising 10.1% recorded in 2009 during the depth of the economic downturn.

The 2009 budget year beganin October 2008, three months & 20 days PRIOR to President Obama's innaguration, so he doesn't own that one. That being said, while deficit spending may be huge, there's a lot less of it happening than there was during the final budget of the previous occupant of 1600 Pennsylvania Avenue. The truth hurts, but the sooner you accept it the sooner you can begin to heal.

October 5, 2012 03:32 pm at 3:32 pm |

MrBeenThere

Last comment was meant as ~Sarcasm~ towards the Republicans

Go Obama 2012

October 5, 2012 03:34 pm at 3:34 pm |

Malory Archer

Oh dear, phil didn't read the article either. That, or he, ltnet356 and Ind. have serious reading comprehension problems and probably should have spent summer vacation in a remedial reading course. Oh wait, when the retugh