Did I say it was a bang up job? No. Did it go down this year? Yup.AZGrizFan wrote:Really?kalm wrote:
The other funny thing about Obama is that he enacted the largest tax cuts in U.S. history and though he grew the deficit while inheriting Bush's economy in 2009, it has shrunk for 2010.
That is all, carry on.
http://en.wikipedia.org/wiki/2010_Unite ... ral_budget" onclick="window.open(this.href);return false;
Yep. He's doin' a bang-up job.Deficit
The total deficit for fiscal year 2009 was $1.42 trillion, a $960 billion increase from the 2008 deficit.
The 2009 deficit includes the cost of the Troubled Asset Relief Program ($154 billion in 2009),[2] the American Recovery and Reinvestment Act of 2009 ($202 billion in 2009, $353 billion in 2010, and $232 billion in 2011 forward[3]), and the 2009 Omnibus spending bill ($410 billion)—and changes due to President Obama's policy proposals.
The 2009 budget deficit would represent 12.3% of gross domestic product,[4] the largest share since World War II.[5]
Debt increases
2010 Budget: Total Debt $ and % to GDP
The 2010 Budget proposed by President Barack Obama projects significant debt increases.[6][7] The debt is projected to nearly double to $20 trillion by 2015, but is expected to increase to nearly 100% of GDP by 2020 and remain at that level thereafter. These estimates assume real GDP growth (after inflation) ranging from 2.6% to 4.6% annually from 2010 through 2019, which exceeds Blue Chip consensus estimates.[8]
So to date, Obama has decreased taxes and shrunk the deficit. Ain't that just a bitch?
