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Originally posted by Konah
Hate to say this, but you're wrong, bud. Our country has never had a surplus, we've had debt all along because of wars. Implying that we went from a surplus to $12trillion deficit in 8 years is just plain false.
According to the CBO, the U.S. last had a surplus during fiscal year (FY) 2001. From FY2001 to FY2009, spending increased by 6.5% of GDP (from 18.2% of GDP to 24.7%) while taxes declined by 4.7% of GDP (from 19.5% of GDP to 14.8%).
Originally posted by dragonridr
PS i know what your talking about but you dont what you were in reference to was budget deficit which is the amount of money the president says he need to run the government the debt is not the same thing.
Originally posted by badgerman24
When you think about the fact that these are ONLY 7 things and we could go on an on listing more it is crazy to think people still support this guy.
Originally posted by drwizardphd
Originally posted by badgerman24
Deficit: Obama has promised to cut the deficit in HALF by the end of his first term. Um, I don’t want to point out the obvious, but he has tripled it. He has also ran up more debt than all the previous Presidents before him…combined!
This is just plain not true.
The deficit has increased, but it has hardly tripled. The deficit in 2009 under bush was $12.86 trillion. The deficit in 2010 under Obama was $14.078 trillion.
I'm not sure why, but this seems to be the most regularly repeated lie I see on these forums. Obviously, the claim that Obama would cut the deficit in half was a pipe dream. He still has a year and a half to do it, but it's realistically not going to happen.
EDIT: Bush still ran up considerably more debt than Obama has. Clinton had a $128 billion surplus and Bush ran it into a $12 trillion deficit. Granted, that was over 8 years so Obama has time to catch up, but the blog you sourced is rife with inaccuracies.
edit on 8-5-2011 by drwizardphd because: (no reason given)