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Obama Claims He Has Cut The Deficit In Half

From Breitbart:

Obama: ‘We Reined In Spending’

By Wynton Hall | November 19, 2013

President Barack Obama told the Wall Street CEO Council Tuesday that his administration has "reined in spending" and "cut our deficits by more than half."

"After years of trillion-dollar deficits we reined in spending, wound down two wars and began to change a tax code that I believe was too skewed towards the wealthiest among us at the expense of the middle class," said Obama. "And since I took office, we have now cut our deficits by more than half. Add it all and businesses like yours have created 7.8 million new jobs over the past 44 months, we’ve gone farther and recovered faster than most other advanced nations. And so in a lot of ways, America is poised for a breakout."

According to the White House’s own budget figures, over the next 10 years U.S. deficits will climb $5.271 trillion.

The Office of Management and Budget (OMB) says Obama’s FY 2014 budget would add another $8.7 trillion to the national debt over the next 10 years, bringing America’s projected federal debt to $25.8 trillion.

Has he gone ‘barking at the moon’ crazy?

This article was posted by Steve on Wednesday, November 20th, 2013. Comments are currently closed.

10 Responses to “Obama Claims He Has Cut The Deficit In Half”

  1. GetBackJack says:

    How does this man not burst into flames?

  2. captstubby says:

    he was not informed that his name will not be on the 2016 ballot.

  3. Petronius says:

    Unfortunately Nerobama came along at precisely the wrong moment in history.

    Under the “leadership” of the community organizer from Chicago, America’s public debt rose from $10 trillion in 2008 to $17.2 trillion today, with no end in sight.

    As things now stand, the debt will continue to rise indefinitely because, under Nerobama’s “budget,” the Federal budget never balances.

    Under Nerobama spending rose from about 20% of GDP in 2008 to 27% in 2011.

    Nerobama’s tax increases and the sequester have resulted in some helpful debt deleveraging, and have helped retard the trajectory of government spending and debt. Federal spending is now reported to be about 22% of GDP. Nevertheless, the mounting debt and tax increases have produced a drag on the economy.

    There is an optimal size for government: 14 percent of GDP. Beyond this the drag on productivity begins to outweigh the benefits. Georgios Karras, “The Optimal Government Size: Further International Evidence on the Productivity of Government Services,” Economic Inquiry 34 (Apr 1996).

    The last time Federal spending was below 20% was the Roaring 20s, when it was about 11%.

  4. Helena says:

    Homonym trouble. What he said was: “We reigned, in spending.”

  5. Reality Bytes says:

    Ignorance is no excuse for dishonesty. Ignorantly dishonest are grounds for impeachment.


  6. Chrispbass says:

    He’s like a broken sewer pipe. That’s exploded.

  7. canary says:

    He’s been saying this for weeks now. He just inserts a business name to thank. He gave the same speech to Mexico he gave in Egypt. He apologized and said the US owes them thanks.

    • captstubby says:

      good point.
      the Campaigner in Chief only knows ” stump speech ”
      (written of course by someone else.)

  8. untrainable says:

    Obama must be using that new-age common core math. You know, the math where 2+2=5 as long as you have a good reason for your answer. Unfortunately the only reason Obama has is that he truly believes that the American people are a rag tag collection of morons with a mean IQ relative to their individual show sizes. Sadly, judging by the fact that this criminal was re-elected, that may not be far from the truth.

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