http://www.reuters.com/article/gc04/idUSTRE5225AP20090304

WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner on
Wednesday blamed soaring budget deficits partly on failure by the former Bush administration to make needed investments in energy security and healthcare.
"We begin our time in office after a long period in which our government was unwilling to make the long-term investments required to meet critical challenges in health care, energy and education," he said in prepared remarks to the Senate Finance Committee.

And if you're willing to "suspend disbelief" and accept these numbers are even remotely accurate, he's not even making sense - he's off by just a few hundred billion. As we all know, Obama just passed a $780 billion dollar stimulus bill. Giethner says $500 billion is Obama's, so somehow $280 billion of this is inherited from Bush, though Obama signed it and it got 3 Republican votes in both houses???

The Obama administration is projecting a deficit of $1.8 trillion, or 12.3 percent of gross domestic product, in fiscal 2009, which ends September 30. Geithner said $1.3 trillion of that total was inherited from the Bush administration.

This must be the same Obama math that says raising the deficit to $2 trillion and then cutting "spending" (by raising $1.0 trillion in new taxes) is "cutting the deficit in half".