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