“Now, what I’ve done throughout this campaign is to propose a net spending cut.”
–Barack Obama, October 15, 2008
Obama Posts LARGEST MONTHLY DEFICIT EVER… Larger Than Bush 2007 Deficit For Entire Year
–Jim Hoft, March 7, 2011
UPDATE: An Instapundit reader offers a correction to Jim’s headline above:
Reader Jacob Allen writes: “The 2007 total fiscal year deficit number being bandied about is inaccurate. Thanks Drudge! As your link shows, that was the CBO estimate for 2007. The actual, hard number ended up being $244.2 billion. So February 2011’s #s would fall just short of 2007’s total (and, 2006 and 2008 which were $248.2 billion and $239 billion (estimated) respectively).” Well, that’s so much better, then.
I like V the K’s new term for Obama: President Fifth Mortgage.
And just to save time… here is my pre-answer to lefties who will leap in sputtering “But Obama inherited it!” No cigar, chumps.
– Obama only inherited a $1T annual deficit. He CHOSE to make it bigger in a series of actions that I call ‘Porkulus… and Friends’. He could have chosen instead to cut it like he promised, say to $500B. He chose the opposite.
– Further to that, the FY2009 was not a Bush budget. In what was then a break with tradition, Democrats held back that budget… specifically so Obama could modify it in Jan/Feb ’09. Democrats never allowed Bush to sign it.
– And because of Obama’s unwise choice, the economy has recovered but poorly the 2008 recession. With Obama’s policies preventing capital formation and perpetuating the economy’s imbalances, the economy can’t heal. After a hiatus of unusually weak improvements in the statistics (what we are seeing now), the next crisis will be worse than 2008. Thanks, Obama!
Thank you, ILC.
And what do we make of Senator Dick Durbin (D-IL) claiming that even $10 Billion in annual cuts. (i.e. reducing the February deficit by less than 0.5%) is unthinkably Draconian?
V, the Democrats are drug addicts (where the drug is government spending). The final phases of denial are always the craziest.
I thought that $163 Billion was “record deficits”. WTF?
The President was on the Golf Course and unavailable for comment.
Obama is now the Deficit Clown. I dare him to bring up President Bush’s deficit & say it with a straight teleprompter face.