US Deficit Declines in Obama's First Full Fiscal Year in Office: President Beats Last Bush Year

[kpete]

Monday, September 13, 2010
US Deficit Declines in Obama's First Full Fiscal Year in Office: President Beats Last Bush Year
That's right the deficit went down in President Obama's first full fiscal year in office. Oh, and it's cheaper to service, too. Newsflash to Republicans: you're full of it on this issue.

Bloomberg:
Budget Deficit in U.S. Narrows 13% to $90.5 Billion on Rising Tax Receipts

The U.S. government posted a smaller budget deficit in August compared with the same month last year, helped by rising tax receipts.

The excess of spending over revenue totaled $90.5 billion last month, smaller than the median forecast of economists surveyed by Bloomberg News and down 13 percent from $103.6 billion in August 2009, according to a Treasury Department report issued today in Washington. The gap for the fiscal year that started in October was $1.26 trillion compared with $1.37 trillion last year at the same time.

more:
http://www.bloomberg.com/news/2010-09-13/budget-deficit-in-u-s-narrows-13-to-90-5-billion-on-rising-tax-receipts.html

[tabatha]

1. Needs to get to the front page.

[liberal N proud]

2. What's that? he's not running up the deficit?

Another GOP/teabagger lie busted.

[treestar]

3. K&R

:kick:

[Oceansaway]

4. K&R...n/t

[Guilded Lilly]

5. where it needs to be posted is on every

obstructionist, racist, do nothing, hate everything Republican site. But then, it isn't a lie so they won't repeat it. The truth is too painful for them to swallow.

[Cant trust em]

6. How 'bout that. nt

[ClarkUSA]

7. Just in time for campaign commercials!

:woohoo:

[Ramulux]

8. Democrats need to be screaming about this over and over

This is huge and if the dems use this the right way they can shut down any of the republicans deficit talking points bullshit.

[Cha]

9. Been a long time coming..bushcheney

fubared this so much that it's going some time to make this good.

[vaberella]

10. Funny how Huffpost doesn't seem to care.

Good stuff here. Thanks for the post.

[Jeff In Milwaukee]

20. Oh, they care, all right....

But about what is still something of an open question...

[impik]

11. Why, why, why this is not a f*****g HUGE headline???

[jenmito]

12. Olbermann wondered the same thing tonight on his show. n/t

[HughBeaumont]

18. Positive news about the Democrats.

The Fourth E$tate likes their Dems to act like tax-raisin' Mondale or cornpone Carter . . . or committing some penny-ante scandal so they can equate it with baby-murder.

[AC_Mem]

13. Deficit Down

This is a BIG F***ING DEAL!!!

:)

[AtomicKitten]

14. No worries. Someone will be by directly to inform us it's BS or not good enough or fast enough.

[uponit7771]

15. ...and the media will ignore it

[Parker CA]

16. K&R!!!!!

[WI_DEM]

17. They have been full of it on the deficit as an issue since Reagan

Fact the last president to balance the deficit was a dem.

[Jeff In Milwaukee]

19. Elminate Bush Tax Giveaways + Downsize Afghanistan = Surplus

We can keep the tax cuts/credits for the middle class and the working poor. We can even maintain a certain level of combat operations in Afghanistan.

But we can also balance the budget.

Sure, there are bigger priorities than a balanced budget, but wouldn't be worth it to see their heads explode over at Fox News?

[thereismore]

24. There you go. Military is the mother of all waste. We would be OK if it weren't

for those wars.

[Jeff In Milwaukee]

30. Truly...

I was reading somewhere else (this week's Newsweek maybe) that when it comes to security and intelligence gathering, we spend more than the rest of the world COMBINED. The article was basically saying that we have grossly over-reacted to 9/11. The Dept. of Homeland Security now has nearly a quarter million employees and their building an administrative complex larger than the Pentagon.

[4lbs]

21. Once the Bush tax cuts for the rich expire, watch it decline even more rapidly.

So, are any of the really rich people in danger of filing for bankruptcy and going "to the poorhouse" ?

After all, wasn't that what they were complaining about?

[Roland99]

29. LOL!

[sabrina 1]

22. K&R

[thereismore]

23. A what? I thought spending was out of control! Damn, if only this could get out

through the media blockade! Obama is not getting the credit he deserves.

[mikekohr]

25. LAST 3 REPUBLICAN PRESIDENTS ACCOUNTED FOR NEARLY 100% OF OUR INCREASE IN THE NATIONAL DEBT SINCE

1981.


Every President, from Truman to Carter, steadily paid down the staggering debt that was run up in our fight against Nazi Germany and Imperial Japan. That pattern came to a screeching halt with Reagan/Bush and Bush. Clinton’s fiscal policy was a brief respite during this orgy of deficit spending.

Clinton balanced 5 budgets, which is 5 times as many balanced budgets as the last 5 Republican presidents combined.


President Obama, like President Clinton, inherited a sea of red ink and a recession from his predecessor. He, like President Clinton, recognizes the importance of getting America back to work and then getting our fiscal house in order.


See National Debt Graph @: http://zfacts.com/p/318.html

?

[indimuse]

26. KNR!!

!!

[laughingliberal]

27. Good. It's obvious if we get some jobs going, the deficit will take care of itself.

Dump the CFC, dump the deficit hawks, fund programs for jobs and the poor, and be done with it.

[CLANG]

28. nah nah nah naaahhhh nahhh!!

Fucking GreasyOldParty.