Some Perspective

Just a quick note about the CBO estimates for the recent health care bill, with come comparative numbers.


Legend:

• JGTRRA: Jobs and Growth Tax Relief Reconciliation Act of 2003 - Signed by George W. Bush, grew the deficit by, er, A LOT


• EGTRRA: Economic Growth and Tax Relief Reconciliation Act of 2001 - Signed by George W. Bush, grew the deficit by something under 4 billion dollars.


• Iraq: yeah, I think we all know who shoulders this, grew the deficit by something south of 8 billion dollars.


• PPACA: Patient Protection and Affordable Care Act of 2010 - Signed by Barack Obama, shrinks the deficit!
  

GWB adds 12 billion dollars to our debt load and is fiscally responsible, while Obama reduces total spending and is sending this country to the poor house? Amazing. I guess it's all in how you sell it.

From Menzie Chinn over at Econbrowser.