Bush’s Legacy: Worst Deficit Ever

Dubya’s done gone crazy with the nation’s credit card and we’ll be paying it off until gas comes free with bubble gum.

President Bush’s budget chief blamed the faltering economy and the bipartisan stimulus package for the record $482 billion deficit the White House predicted for the 2009 budget year. The White House blames a faltering economy [JMG: Also his fault] and the stimulus package for the increased budget deficit. Jim Nussle, the director of the Office of Management and Budget, said the deficit would be about 3.3 percent of the nation’s gross domestic product, the measure of the nation’s total economy. The fiscal year begins October 1, 2008.

Dubya came into office with a $128B budget surplus. Back in February a Nobel Prize-winning economist estimated that the total cost of the war in Iraq could be $5 trillion.