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It is important to note that quite a bit of deficit spending that Obama has was created by Bush... but the Republicans always deny that. The Bush Administration used accounting tricks to hide deficit spending... for example, they didn't include war spending.
Obama's changes include accounting for the Iraq and Afghanistan wars (Bush relied on "emergency supplemental" war spending), assuming the Alternative Minimum Tax will be indexed for inflation, accounting for the full costs of Medicare reimbursements, and anticipating inevitable expenditures for natural disaster relief. The result of Obama's changes is a budget that is $2.7 trillion MORE than was previously accounted for. That debt was always there... the Bush Administration just didn't show it.
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