All numbers are in Billions of US dollars.
Doing a little math we get:
|The obvious Deficit conclusions we can draw from this are that :|
The obvious spending (discretionary and entitlement) conclusion is that
spending grew from an average of $2367 billion under GWB and a Republican Congress to an average of $3643 billion under BHO with a Democratic Congress. An average increase of $1276 billion or 87.5%.
The obvious revenue conclusion is that revenue increased slightly under GWB with a split congress, but significantly decreased under BHO with a Democratic or split Congress. It decreased from a high of $2734 billion to a low of $2230 billion, or $504 billion, 18.4%.
The overall conclusion from this data is that the Republicans are responsible for about 25% of the problem, based on their posturing on taxes and revenue and the Democrats are responsible for about 75 % of the problem, based on their expostulations about taxing the rich. The gap between increasing spending and decreasing revenue as about $1780 billion dollars. No wonder we are in trouble.
I think the Republican position of no new taxes is based on both the untrustworthyness of their Democratic collegues and the desire to follow the Laffer pronouncements with tunnel vision. The history of the Democratic position of new taxes to increase revenue without significant spending cuts has shown that they waste the money they have on supporting ideological boondoggles and are unthrifty in their spending. It appears, from the news, that most of the increased spending has gone to bailing out or rewarding high dollar contributors, or falling for every technological scam artist that supports them. Because of the historic actions of the Democrats and BHO, the Republicans are loathe to trust them any more.
Let's get one thing straight, The republicans think that taxes stiffle business - to an extent they are right. However, it is probable that only taxes that affect business or commerce stiffle business. The selected elite that get rich massaging stocks. The banks and stockbrokers that have forgotten good financial business practices and destroy the economy, while taking home massive golden parachutes; the revolving door between lobbyists and Congress and the Executive are all self serving. All these actions go into the spending column and our of the revenue column, with none of these actions helping businesses. I don't think that these kind of tax cut actions were what Laffer was talking about. That is just graft, and BHO and the Democrats are kings of the graft.
With his ideological blinders and economic stupidity, BHO can never correct the situation. Pelosi and Reid are in the same class. The easiest no-cost way to ameliorate the economic situation is to remove the non-productive rules and regulations hampering business. If he did this, BHO might generate enough revenue to pay for his "Obamacare" dream and still give graft to his supporters. Alas he is so ideologically driven and economically stupid that this will never happen.