“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!


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©2020 Mike P. Sinn

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