Less than 24 hours after President Barack Obama’s inauguration, the Republicans are back to spreading the same old lies. This time, they’re insisting that Obama caused $5 trillion in debt increases. Simple math shows that this is not true: When you subtract $1.6 trillion for George W. Bush’s wars in Iraq and Afghanistan, $1.4 trillion in interest payments for outstanding debt dating from the Bush administration, and $1.6 trillion in lost revenue from Bush’s tax cuts, the number dwindles to $400 billion in debt authorized by congress, as well as the president. Furthermore, much of government spending was caused by Bush’s recession, during which more people were forced to apply for food stamps and other public assistance.
Here’s the video:
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