We went from a 438 billion dollar deficit in 2008 to a projected 972 billion dollar deficit in 2012. Obama doubled the deficit.
“This is big,” wrote White House director of new media Macon Phillips in a February 23, 2009 blog post, ”the President today promised that by the end of his first term, he will cut in half the massive federal deficit we’ve inherited. And we’ll do it in a new way: honestly and candidly.”
To everyone's utter and total surprise every word in that sentence was a complete lie. Especially the honest and candid part.
But there was a miscommunication. Obama meant to say that he would double the national debt, instead of cutting it in half. And while he didn't quite pull that off, he came close, adding 6 trillion to the national debt. And with a second term, he's sure to double the debt.
In keeping with Obama's candid and honest plan to lie to everyone all the time, he delivered a radio address a few days ago in which he once again announced that he's cutting the deficit.
No seriously. Stop laughing.
"For years, an argument in Washington has raged between reducing our deficits at all costs, and making the investments we need to grow the economy. My budget puts that argument to rest. Because we don’t have to choose between these goals – we can do both. After all, as we saw in the 1990s, nothing reduces deficits faster than a growing economy."
Sally, come in here for a minute. This is fantastic. I just found out that we don't have to choose between spending money and not spending money. We can do both. Because nothing reduces our spending faster than spending more money.
A crazy man on the radio told me so.
"Now, the truth is, our deficits are already shrinking. That’s a fact. I’ve already signed more than $2.5 trillion in deficit reduction into law, and my budget will reduce our deficits by nearly $2 trillion more, without harming the recovery."
So how is Obama's Magic Bus of Deficit Reduction doing?
Barack Obama's fiscal 2014 budget proposal this morning, the White House Office of Management and Budget revealed that in fiscal 2016, under the president's budget proposal, it expects Obama to become the first president in the nation's history to preside over a federal government that spends more than $4 trillion in one year.
Isn't this amazing.
Obama hits a new record of spending 4 trillion in one year while making 4.5 trillion in spending cuts. Math has finally been defeated. Numbers are all imaginary now. And money comes from a magic tree in the backyard that Obama bought when he traded the treasury for some magical social justice beans.
According to OMB's tables, the federal government would spend$3.7778 trillion in fiscal 2014 under Obama's budget proposal. It would then spend $3.9801 trillion in fiscal 2015; $4.0898 trillion in fiscal 2016; and $4.2474 trillion in fiscal 2017.
See. We don't have to choose between reducing the deficit and spending more money. We can just spend more money and ban math.
But this didn't begin under Obama. Bush was just as bad.
The federal budget deficit hit a new record in the just-completed 2008 budget year under the latest estimates from the Congressional Budget Office.
The record $438 billion shortfall for the budget year that ended last week is up from $162 billion posted last year. The previous record of $413 billion was posted in 2004.
We went from a whopping horrifying 438 billion dollar deficit in 2008 to...
...in fiscal 2013, OMB projects a $972.9 billion deficit
Obama has done it. He doubled the deficit.