The New York Times had this chart on display as part of a Sunday opinion column on the source of the federal budget deficit:
At $1.44 trillion to $5.07 trillion – a difference of $3.63 trillion – President Obama’s policies have been far less expensive than that of his predecessor, George W. Bush. By and large, our large deficits owe most of their existence to policies pursued by President Bush – his tax cuts on middle- and high-income earners, and his wars in Iraq and Afghanistan.
Senate Majority Leader Harry Reid’s offer for raising the debt limit is straightforward, if somewhat painful for liberals. In exchange for raising the debt limit by $2.7 trillion, Reid promises to cut spending by $2.7 trillion over the next year, a substantial portion of which comes from defense cuts and ending the wars in Iraq and Afghanistan. What’s more, in an attempt to satisfy Republicans, Reid’s plan makes no attempt to raise revenues, either through tax hikes or cuts to tax expenditures.
Despite media enthusiasm for his candidacy, Jon Huntsman has never been a serious contender for the Republican presidential nomination. His political positions are too moderate, his persona is too conciliatory, and his service in the Obama administration makes him anathema to most of the Repubican base. To wit, the former Utah governor has never polled above 5 percent among GOP primary voters.
With in mind, it wouldn’t be wrong or even premature to read this campaign change as the beginning of the end for Huntsman 2012:
When 62 percent percent of Americans agree that the Republican Party should compromise on budget negotiations, it’s obvious that President Obama is winning the politics of the debt-ceiling negotiations. On the other hand, when 47 percent of Americans say that spending cuts will create jobs – as they did in the most recent Washington Post/ABC News survey – it’s clear that Obama is losing the larger ideological battle over the role of government.
It's not hard to find signs that President Barack Obama is destined for a single term. Unemployment continues to hover at 9 percent, and a June poll from American Research Group says 39 percent of Americans disapprove of how he has handled the economy, which 71 percent of registered voters say will be "extremely or very important." When asked whom they'd vote for in the 2012 presidential election, 47 percent said the "Republican Party's candidate for president," as opposed to the 39 percent who would support Obama.