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Government Spending

Obama to cut deficit in half… After quadrupling it.

Obama Government Cut Deficit

“Obama plans to slash deficit in half” is the title of this AP story. The attribution of fiscal responsibility to our current president is rather misleading.

Here’s a graph from a Wall Street Journal article of the annual federal budget deficits over the last 30 years.

Graph Showing Federal Budget Surplus/Deficit Since 1980 (30 years)

Graph Source: http://online.wsj.com/article/SB123457407865686565.html

Bush’s worst deficit was less than $500 billion. Obama’s 1st might be $2 trillion. Then in four years, he says he might decrease it to $533 billion.

That’s still the worst annual deficit in the entire history of the United States. Then that AP story tries to portray him as a fiscal conservative.

Preposterous, indeed!