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Sadly, we don’t know WHAT the true deficit is — or true national debt either! Remember, these are the same people that tell us unemployment is 7%, inflation is 2% and that 2013 is one of the hottest years on record. When they say anything, assume it is a lie, even the punctuation, conjunctions and participles.
Great we are going broke at a slightly slower pace. However for the truth we hit our limit a while back and borrowed the 300+ billion on this years credit card instead of last. Look for a major uptick this year as that 300+ billion and the Obamacare shit storm gains strength.
Slightly slower pace than what?
…than these people
http://www.angelfire.com/stars4/lists/bankruptcies.html
Party like it’s 1929!
http://www.burlingtonderailed.com/media/1/Obama-pinocchio-teleprompter.jpg
I”m guessing he meant that he is running the government at a loss somewhat less than previous recent rates of loss. Highly deceptive of course.
Convenient they ignore they spiked they first year through the nearly $1 trillion “stimulus” specifically so that they could claim the cutting in half. They really should have spent $2 trillion so that they could claim cut by 3/4.
Another thing helping is that TARP went out in 2009 and was repaid in later years (except for the old GM financing arm, now Ally Financial, and some others which still owe).
This year, spending will spike due to Obamacare, but so will the taxes. Since so many people are going onto Medicaid rather than insurance plans, the spending will likely exceed forecasts. Not sure if they can ever use the “cut in half” line after this year.
Are you confusing “deficit” with “debt”, Steve? You can reduce the deficit yet still increase the debt. As is also happening in the UK. They are not mutually exclusive. Deficit is annual, debt is cumulative. And until you stop deficit spending, debt will rise, as will interest payments.
Obama took office in 2009. The deficit nearly tripled in 2009. Look at the graph.
Agreed. He is hell bent on the destruction of the USA.
Jeremy,
Is $960 billion half of $1,400 billion?
When you triple the debt who cares if you claim to cut it in half. If it is the truth you still suck at fiscal responsibility, and if its a lie, then your name is still Obama.
You are asking the wrong question. The largest deficit before Obama (2008) was less than $500 billion.
Not that it makes a difference, but the deficit was $680 billion for the fiscal year ended Sept. 30.
http://research.stlouisfed.org/fred2/graph/?chart_type=line&s%5B1%5D%5Bid%5D=FYFSD&s%5B1%5D%5Brange%5D=10yrs
What has happened is the forecasts for the last 5 years have been wildly off. By several hundred billion dollars even from forecast at beginning of the year to the actual. I’m not sure if they haven’t netted out TARP or done something like that which distorts the actual compared to the forecast. The government doesn’t follow the same rules as companies or people do when reporting things. For example, if Social Security were truly a separate account, they could not use the surplus to cover up some of the deficit on the rest of the spending.
I’m using White House numbers.
So we should just print more money to cover the deficit. What could possibly go wrong with that?
Reblogged this on The Firewall.
When my son was 3 he had no difficulty with numbers.