Whos Fault Is It?

President Bush says the current humungous Federal deficit is not his fault. The Congressional Budget Office says otherwise:

The Congressional Budget Office estimated this month that cyclical economic problems contributed only $47 billion of this year’s anticipated deficit of $422 billion. Next year, cyclical economic problems are expected to have almost no impact on the budget, but the deficit is expected to be $348 billion.

Going forward, virtually the entire federal deficit will be a result of structural causes — tax and spending policies set down by the president and Congress.

(Link via No More Mister Nice Blog)