Since taking office, Obama has tripled the Federal budget deficit, and has borrowed nearly as money as all other presidents combined.
Table 1.1—Summary of Receipts, Outlays, and Surpluses or Deficits (-): 1789–2018
In his Saturday speech, he tried to deflect attention away from his destruction of the US by claiming that he has lowered the budget deficit at a record rate.
[youtube=http://www.youtube.com/watch?v=-ZJvRzOdSCw]
Despite having a budget 30% larger than any previous president, Obama says the Feds don’t have enough money for White House tours or to pay air traffic controllers.
At least the race toward bankruptcy has slowed a little.
Reblogged this on Climate Ponderings.
But, butt, butt,
It’s all Bush’s fault!
He’s the one that didn’t sic the IRS on the money bags in Hollywood!
Oh, well, kick back, have a toke (or three), and enjoy your goberment largess.
Just ask Nancy, she can tell you (but only if you vote for her)!
Haaaa, Haaaa, Haaaaa, and I have a bridge over the Columbia to sell’ya
Saint Obama needs that money to pay for all those vacation his wifie-dear and kids take, and all those rounds of golf
The biggest problem is not necessarily the magnitude, but how it got there. Had the deficit come from large tax rate cuts with modest increases in spending, it would have had been extremely beneficial for the economy. Instead, it was a massive increase in spending.
Spending increases never reverse, while cuts in tax rates tend to be.
Obama can claim that the deficit is recovering at a record pace, but it is endless derision if we observe the Arctic ice recover at a record pace.