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

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?

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  • 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.

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