President Obama is fond of telling us that “I halved the deficit”.
Here, pulled from Tyler Durden\’s zerohedg.com blog, is a chart showing how spending has moved since 2007 – with the years 2009 to 2014 owned by Mr. Obama:
Source: US Treasury
There\’s the spending. Does that chart give you any reason to believe President Obama cut the deficit in half?
Me neither.
But wait, you might say: “Just because Mr. Obama spent all that money doesn\’t mean the deficit wasn\’t halved. Let\’s see the deficit data.”
Ok, fair enough. here it is:
Please note that the last budget signed by President Bush was in 2008. It ended with a deficit of about $458 billion. So, after ballooning spectacularly for six years, President Obama has managed to do what? Bring it back to slightly higher than where it was in the first place? Didn\’t he campaign on that $458 billion dollar deficit as a disaster that he was going to fix? Does that chart show you that he fixed anything at all?
That\’s some record of achievement, let me tell you.
And do not tell me that 2009\’s budget was the responsibility of President Bush. The 2009 budget was held up by the Democrat congress so that Obama could shtupp it with hundreds and hundreds of billions in extra spending, and was signed by Barack Obama – that\’s right: Obama, not Bush – on March 11, 2009; almost halfway through the fiscal year and two months after Bush left office.
But that has not stopped Mr. Obama from bragging that he “halved the deficit” – as though 2009\’s record-breaking deficit had nothing to do with him.
Does this man ever tell the truth about anything?
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UPDATE: If you would like a concise (though overly cutesy) explanation of how President Obama exploded the 2009, budget, click here.
A little taste for you:
PresidentBush\’s proposed FY2009 budget called for spending of only $3.11trillion, which was just a 3% increase. President Obamaand his Democrat Congress ended up spending $3.52 trillion in 2009,which represented a 17.9% increase in spending — the highestsingle-year percentage spending increase since the Korean War.
ByJanuary 2010, spending as a percentage of GDP was 25.2% — thehighest it has been in the United States since World War II.
But…but…the 2009 budget was all Bush\’s fault. Obama\’s the guy who cut spending. Honest. Just ask him.
