Monday, April 7, 2014

The Myth of Democrats and Deficits

After paying for WWI, democrat Woodrow Wilson left his republican successor with a surplus.

After slashing taxes and a stock market crash, the next 3 republicans left Franklin Roosevelt with a deficit.

After battling through the Great Depression and WWII, democrats Roosevelt & Truman put the budget back in the black.

Between 1953 & 1980, each party added roughly a quarter of a billion dollars to the deficit—slightly more for the democrats because of the Vietnam War.

Between 1981 & 1992 republicans Reagan and H.W. Bush cut taxes and ran up an unbroken string of six-figure annual deficits—the largest ever.

Democrat Bill Clinton inherited a $300 million deficit and turned it into an $86 million surplus.

Republican George W. Bush cut taxes, launched 2 major wars, and created the largest deficits in the history of the country.

Despite inheriting massive deficits and a Great Recession, democrat Barack Obama has managed to cut the annual deficit by more than half in his first 5 years.

See for yourself (below):