Obama misdiagnoses source of deficits

Subject: txt mny -
President Obama says he wants to reduce America's record trillion-dollar deficits. Too bad he hasn't even correctly diagnosed their cause. Yes Mr. Bush implemented the three policies mentioned by Mr. Obama in his State of the Union address.

Yet by 2007 — the last year before the recession — the budget deficit stood at only $161 billion.

So how could those policies cause trillion-dollar deficits from 2009 through 2020?

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