The Greatest Chart Ever

Via Benen, the CBPP has updated its famous “parfait” chart illustrating what’s driving the national debt between now and 2019 based on CBO estimates from last month.

And, shocker!, the chart looks about the same as it always has. Because, like always, the Bush administration’s policies occupy most of the strata.

However, this chart continues to be a huge secret because if you listen to cable news and the traditional press, both sides are to blame for the sequester and Obama is to blame for out-of-control spending (even though he’s cut the deficit by $555 billion and is responsible for the second lowest annualized growth in government spending of any president since World War II).

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  • GrafZeppelin127

    Two things I’ve never heard anyone on TV or radio say, and that no one seems to understand:

    1. When one president leaves office, the things that were put in place during his administration continue to cost money. The new president cannot simply unilaterally decide not to pay the bills incurred by his predecessors.

    2. Any laws passed under PayGo rules do not add to the deficit, in that they are not paid for through borrowing. A Democratic Congress passed PayGo in 1990; that and the 1993 OBRA eliminated the deficit by 1999. PayGo expired in 2002, and the Republican Congress declined to renew it, then passed the Bush Tax Cuts, Medicare Part D, and authorized the borrowing to pay for the wars in Afghanistan and Iraq, thus creating the bulk of the deficit we see today. PayGo was reinstated in 2007 when the Democrats took back Congress, although TARP and the Recovery Act, among others, were exempt.

    PayGo has been statutory law since February 2010. Nothing passed since then, including the Affordable Care Act, has added (or been projected by the CBO to add) to the deficit.

    Laws passed under PayGo are not paid for through borrowing. Laws passed in the absence of PayGo are paid for through borrowing to the extent existing funds are not available.

    Why is no one talking about PayGo? Why is no one telling Sean Hannity about PayGo?

    • http://drangedinaz.wordpress.com/ IrishGrrrl

      Excellent points!

  • trgahan

    That is a lovely chart…too bad the MSM is not allowed to talk about the debt as if it existed prior to 2009. Also too bad that most people who vote believe the dark yellow “Bush Era Tax Cuts” part is actually “Lazy Minorities Looking for Handouts from Hard Workin’ White People.”