“The deficit is getting smaller, not bigger,” Obama said.
That’s true. But, Sen. Marco Rubio, R-Fla., said
With budget ‘deal,’ national debt free to soar again | Fox News
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Steven,
Maybe you might try plotting debt to GDP from Carter onwards.
There is a nice graph of deficit as % of GDP here –
http://www.factcheck.org/2013/08/deficits-falling-from-way-up/
Wikipedia has wikimedia commons file –
http://en.wikipedia.org/wiki/File:Federal_Debt_Held_by_the_Public_1790-2013.png
There’s a reason people throw the percent of GDP around rather than the actual dollars. Federal spending is part of GDP, so with the big pop that we’ve gotten under Obama, the GDP has up, making other things relatively smaller. Like the ridiculous. tax receipts as a percentage of GDP are the lowest since the 50’s or whatever they claimed.
Well, they could jack federal government spending by a trillion dollars and then everything as a percentage of GDP would look about 1/3 better. With Obamacare being phased in next year, GDP will get that extra boost and things as a percentage will look all that smaller.
Oh I blew the math. Things wouldn’t look 1/3 better, but single percentage better. Since the trillion would be on top of the GDP, not government spending.
I see the idea. Less big number, less to frighten the sheep.
The Federal deficit got smaller this year thanks to the sequester and the end of the 2% FICA tax holiday. However, no end in sight for total debt increasing (the evil House is the only one who passed a budget that balances in the future, albeit not fast enough).
Doesn’t your chart show the deficit getting smaller? Total debt is still increasing, but the deficit is getting smaller – mostly because it couldn’t get much bigger.
Smaller than what? It is currently more than double Bush’ largest. The deficit is guaranteed to continue to rise over the long term, because interest payments on the increasing debt are guaranteed to rise.
If the government wasn’t artificially depressing interest rates, the deficit would be triple its current value.
At an Obama-era trend of $100 million a year decrease, it will take another 7 years to get back down to Bush level.
That’s because it isn’t, look at this, public debt for each president –
http://en.wikipedia.org/wiki/File:US_Public_Debt_Ceiling_1981-2010.png
Reblogged this on The Firewall.
Depends on when you start counting. If you start in 2009, you get quite a negative slope. Remember these are the folks who believe that a decrease in the rate of increase is a draconian budget slash.
I suppose we could just watch that deficit get smaller –
http://www.usdebtclock.org/
When OBamBam says he has cut the deficit in half, he is correct. But he quadrupled it first, then measured his cut from there.
So the deficit is still very, very large and the Media Party glazes over the details to give Barry a free ride.
All in how you phrase it and all in how you cover up the truth if you are a journalist.
Obastard increased the size of government by 20+% in his 1st 90 days in office.
The piece of shit in chief is on a mission and the voting populace either hasn’t noticed or doesn’t care!