Thread by @dcpetterson

What GOP won't admit about the federal deficit.
It is caused *entirely* by:
1) Bush's tax cut (reducing revenue)
2) Bush's two wars (raising spending)
3) Bush's Great Recession (lowering tax revenue)
4) Recovery from Bush's recession (raising spending)
1/

Bill Clinton left G. W. Bush with a $200 billion annual surplus. Bush turned that into a $400 billion annual deficit through slashing taxes and aging two wars off the books. Oh, and Medicare Part D, which had NO pay-fors.
2/

Then a combination of Bush antics (including deregulation, lack of enforcement, and lots of bad economic policies) created the worst recession in 8- years, leading to massive job losses and collapsing tax revenue.
3/

The recession created the need to recover from the recession--extra needed spending such as TARP and the stimulus package and additional unemployment payments. This created a $1.4 trillion deficit in Bush's last fiscal year.
4/

President Obama reduced the deficit in every year he was in office (with one exception), primarily through increased economic activity, and forcing the expiration of some of Bush's disastrous tax cuts.
5/

The annual deficit fell faster under Obama that at any time since then end of the Second World War. This was despite Republican efforts to stymie President Obama's recovery program.

An added expense during all this is the interest payments on the massive Bush deficit.

6/

Had it not been for G. W. Bush, the Clinton surpluses would have paid off the national debt entirely by 2012.

Remember, President Reagan and Bush the Elder nearly tripled the national debt in the period 1981-1993,

The fallout from Bush the Lesser tripled it again.
7/

Now, Republicans want to use the massive Republican national debt as an excuse to slash Social Security and Medicare.

8/

Social Security adds NOT ONE DIME to the deficit, and the only way cutting SocSec would lower the deficit is by staling YOUR SOCIAL SECURITY MONEY and using it as the kickbacks the #GOPTaxScam puts into the pockets of billionaire overlords.
9/

Medicare--other than Bush's unpaid-for Medicare Part D--also adds ABSOLUTELY NOTHING to the deficit or the debt. Both Medicare and SocSec are paid for through dedicated taxes.

Republicans created this massive debt as a scam to kill Americans.

10/

Oh, and to steal your money.

That's what they don't want you to know.

11/11

Just as a final note--

As I noted, the deficit in Bush's final fiscal year was $1.4 trillion. It was going to be $1.7 trillion--Obama managed to lower it by $300 billion. By the time he left office, annual federal deficits has been reduced by roughly $1 trillion.

Republicans always accuse Democrats of increasing the deficit. They lie. The annual deficit shrunk under the last three Democratic president, and skyrocketed under the last four Republican presidents.

It will, without doubt, skyrocket under Trump as well.