WHERE’D THAT DEFICIT COME FROM?

Maybe you’ve seen some version of this graph.  It’s interesting because it shows clearly the sources of our federal budget deficit.  This visual is from the Center on Budget and Policy Priorities, a non-partisan research and policy institute.  We think it’s particularly interesting because it shows that The TARP which was passed under W. — considered the major contributor to the deficit by the Right — is actually only a little tiny blip (shaped like a light blue triangle) in the lower left corner.  Its impact is limited, and very very small.   

And that’s what the Repubs are soooo worried about.  Yet, they’re not at all worried about the Bush Tax Cuts, which have the largest impact on federal deficits.  Oh, and the two unfunded wars, that’s a pretty big impact also.  But the Republican Tea Party isn’t concerned about that.  No, what they’re sooo worried about is the TARP, which stopped the global economy from melting down.  Passing TARP was pretty much the only good thing W. did in his entire eight year Presidency.

But, you see, the TARP just doesn’t fit in with the Republican Tea Party’s narrative:  The government is bad, and any thing the government does (except for the military, of course) is almost evil.  So, TARP had to be bad, because the government did it.  Get it?