Infographic of the Day: James Fallows writes: “The Chart That Should Accompany All Discussions of the Debt Ceiling: It’s this one, from yesterday’s New York Times…It’s based on data from the Congressional Budget Office and the Center on Budget and Policy Priorities. Its significance is not partisan (who’s “to blame” for the deficit) but intellectual. It demonstrates the utter incoherence of being very concerned about a structural federal deficit but ruling out of consideration the policy that was largest single contributor to that deficit, namely the Bush-era tax cuts.”
It’s also worth noting that the debt ceiling was raised by $4 trillion under Bush without incident, and Speaker John Boehner, House Majority Leader Eric Cantor, and Senate Minority Leader Mitch McConnell approved each of the five increases.
[atlantic / thinkprogress.]
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