Four days ago, Glenn Reynolds reminded us of another Obama statement hitting its expiration date. Today, I googled and found this video:
A the one-minute mark in the video, President Obama, having cited the exploding size of federal debt said, “That’s why today I’m pledging to cut the deficit we inherited by half by the end of my first term.”
The nonpartisan Congressional Budget Office (CBO) on Tuesday estimated that the federal budget deficit stands at $975 billion through July. This guarantees that the deficit for fiscal 2012, which ends Sept. 30, will be above $1 trillion. The deficit under each year of the Obama administration will have exceeded $1 trillion, after coming to $459 billion in 2008.
Do wonder if the legacy media will contrast Mr. Obama’s rhetoric with his record.