HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » CHART: Spending, Taxes, A...

Wed May 16, 2012, 08:28 PM

CHART: Spending, Taxes, And Deficits Are All Lower Today Than When Obama Took Office



http://thinkprogress.org/economy/2012/05/15/484767/obama-budget-chart/

In January 2009, before President Obama had even taken the oath of office, annual spending was set to total 24.9 percent of gross domestic product. Total spending this year, fiscal year 2012, is expected to top out at 23.4 percent of GDP.

Here’s another interesting fact. Taxes today are lower than they were on inauguration day 2009. Back in January 2009, the CBO projected that total federal tax revenue that year would amount to 16.5 percent of GDP. This year? 15.8 percent.

One last nugget. The deficit this year is going to be lower than what it was on the day President Obama took office. Back then, the CBO said the 2009 deficit would be 8.3 percent of GDP. This year’s deficit is expected to come in at 7.6 percent.




1 replies, 956 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply CHART: Spending, Taxes, And Deficits Are All Lower Today Than When Obama Took Office (Original post)
underpants May 2012 OP
chollybocker May 2012 #1

Response to underpants (Original post)

Wed May 16, 2012, 09:00 PM

1. But thats not wut the librul media sez.

I hurd John Edwurdz is a bad bad man.


Hmph.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread