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The Congressional Budget Office last week released updated historical budget data for the federal government, reporting a deficit of $1.087 trillion in fiscal 2012.
2012 marked the fourth straight year—and the only four years in the history of the nation--when the federal government’s deficit topped $1 trillion.
Last year’s $1.087 trillion deficit was even greater in inflation-adjusted dollars than the peak World War II deficit of fiscal 1943—which was $54.554 billion in 1943 dollars and $723.8714 billion in 2012 dollars, according to the Bureau of Labor Statistics online inflation calculator.
Uploaded on Feb 15, 2011
Obama talks about how he will cut the deficit in half during his first term - and why it's so important. Really? The 2008 budget deficit was 458 billion. Obama's proposed new budget for this year has a deficit of 1.1 TRILLION. For God's sake - WTF???
The federal budget deficit narrowed from more than 10 percent of the gross domestic product at the end of 2009 to 5.7 percent of GDP for the 12 months ended March 31 -- the smallest gap in four years, according to data compiled by Bloomberg.
Originally posted by aoxomoxoa
The deficit is declining, and will be less than half of what it was when Obama took office.
Originally posted by beezzer
What is the deficit now? 16.7 Trillion dollars.
Explain how this is less than 8 trillion dollars.
Originally posted by aoxomoxoa
reply to post by beezzer
there is a difference between debt and deficit. You can search online and fibd iut for yourself in less than ten seconds
Originally posted by neo96
reply to post by poet1b
Considering there are 50 million on welfare there were 60 million Americans on medicaid until the guy WHO IS THE TOPIC created the Care Act that added 30 million new people on to a program that already can't be paid for, who spent $800 billion dollars from stimulus(Bush didn't do that OBAMA DID) and since the government take over of student loans that now is at $1 trillion dollars.
Keep up with the deflections not a damn grain a truth to them.
Obama has increased the deficit massively, after claiming to cut it.
edit on 18-8-2013 by neo96 because: (no reason given)
Originally posted by aoxomoxoa
reply to post by neo96
30 million added to what program? Private insurance?
As far as food stamps go, two things: the population is growing, and the Bush/banker/ wall street economy gave us the highest unemployment and poverty in decades.