Barack Obama, Lies, Republicans — February 5, 2014 at 6:39 am

“Tax and Spend” Obama has lowered the deficit by almost two-thirds

by

You have to admit, Republicans can spread a lie better than anyone on the planet

So this is amazing:

A new report released Tuesday says the government’s budget deficit is set to fall to $514 billion for the current year, down substantially from last year and the lowest by far since President Barack Obama took office five years ago.

The Congressional Budget Office report credits higher tax revenues from the rebounding economy and sharp curbs on agency spending as the chief reason for the deficit’s short-term decline. […]

CBO sees the deficit sliding to $478 billion next year before beginning a steady rise years through 2024 that would bring deficits back above $1 trillion a year.

Here’s what that looks like graphically. Notice the trend when we have a Democrat in office versus when it’s Republican?


Chart by Chris Savage using data from the Office of Management and Budget

So, despite the lies being told by Republicans and their tea party pals, Obamacare hasn’t increased our deficit and Obama isn’t running record deficits. This year, it’s going to be nearly a third what it was at its highest point. The reason that the deficit is projected to rise again in the future is because huge numbers of people will be retiring, something that has nothing at all to do with the President.

Maybe we oughta spread this chart around a bit, eh?

  • judyms9

    Job creation and war avoidance, two things the GOP is not good at, are key. And without investment in the future we won’t have one.

  • Francesca Battista

    Obama still has the highest deficits, and has reduced his OWN all time high deficits. Look at the chart you use… are you blind? And what’s this, are you adding Obama’s almost $1 TRILLION failed STIMULUS PACKAGE of 2009 to Bush? And how about Obama’s wasted money lost for the auto industry that fell under Bush’s TARP? The man reduces his own deficits by the Sequester he blames the GOP for and you applaud him? This is sooooo Progressive, no reason or logic, just spin!

    • Darryl Dickens

      Yes GOP blind

    • The Trumpnado

      Exactly. Obama gets in and spends like a drunken sailor right after taking office and blows up the deficit with his stim bill, and they credit that to BUSH. Then use the Obama debt falsely laid at Bush’s feet to claim Obama “lowered” the deficit. In reality Obama hasn’t even gotten as low as Bush’s WORST year with his best, even after GOP took congress and slowed him down.

    • Dave Mittner

      Use you’re brain for Christ sake. The stimulus package cost under $800B and only $200B of it was spent within FY2009 and added to that line. And that certainly doesn’t explain the deficits in the years after. Decreased tax revenue and increased social spending is the vast majority of the 2008+ deficit explosion and the deficit has reduced as the economy has recovered.

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