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Where did the $6 trillion surplus go?

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In the late 1990s, the Congressional Budget Office projected surpluses totalling $6 trillion over the ensuing ten years. Obviously that didn't happen. In fact, that $6 trillion surplus turned into $6 trillion in debt. What happened?

Here is one answer from the left-leaning Center for American Progress.

 

Here is a graphical representation of their answer.

Screen Shot 2012-10-24 at 12.03.14 PM

So the stimulus is really increased spending under President Obama, for a total of 14%. Less than the increased spending under Bush, but not too far from tax cuts as the culprit, which Obama keeps claiming as the cause.

But the big cause is 54% in total increased govenrment spending under both Bush and Obama, plus 26% due to CBO error. Tax increases aren't going to do much to stem the looming deficits. 


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