Non-partisan economic primer - how'd we get here

Yes, the current budget deficit is courtesy of George W. Bush, even though he inherited a massive budget surplus. Yes, President Obama's plans to fix the economy might be too ambitious to succeed. Why? Because, thanks to the last 8 years, we are now at the mercy of foreign investors.

www.nytimes.com/2009/06/10/business/economy/10leonhardt.html

The conservatives try to blame Obama for 100% of the budget deficit, saying his plans are failure because he could not fix 8 years of abuse in just 6 months. They say his lavish spending is the cause. The reality is that President Obama's initiatives are responsible for 3% of the deficit, and his continuation of the economic stimulus to end this recession accounts for 7%. The other 90% of the deficit was inherited from failed Republican economic policies under Bush.

Sorry Republican blamesters, that's the actual unspun truth.