"Obama says deficit is falling at the fastest rate in 60 years"

[applegrove]

Obama says deficit is falling at the fastest rate in 60 years

http://www.politifact.com/truth-o-meter/statements/2013/jul/25/barack-obama/obama-says-deficit-falling-fastest-rate-60-years/

"SNIP.......................................



The White House press office told us that the proof is in the numbers. They tracked the deficit as a percent of the entire economy, measured as the Gross Domestic Product.

In 2009, the first year of Obama’s presidency, after tax cuts and new spending, the deficit was 10.1 percent of GDP. In 2012, the deficit declined to 7 percent of GDP. So that’s a decline of 3.1 percentage points.

You have to go back 63 years to the period between 1946 and 1949 to find a bigger four-year drop than what the country saw between 2009 and 2012. Right after World War II ended, the U.S. deficit stood at 7.2 percent of GDP. By 1949, America had a surplus of 0.2 percent. So that’s a decline of 7.4 percentage points.

We downloaded data from the Office of Management and Budget that shows the deficit as a percent of GDP all the way back to 1930. When we ran the numbers, we found, as Obama said, you need to go back to 1946 to find a larger change.




.....................................SNIP"

[NuclearDem]

1. I don't see how this is possibly a good thing.

Deficit spending during a recession is a good thing.

[applegrove]

2. I agree. But it goes to snuff out the GOP and the false fear of "inflation" they have created

in their base. If a few fewer fiscal conservatives are scared, better for democrats. Better for the country. And perhaps moral suasion will get those assholes to stop obstructing jobs and infrastructure bills. Or at least lay their political lies bare.

[NuclearDem]

3. I see what you're trying to say, but it's really a futile effort.

They wouldn't get on board with Obama if he gave every American an AR-15, went to war with Iran and Syria at the same time, and made abortion illegal in all 50 states. All this does is work against the better interests of the country as a whole.

[taught_me_patience]

5. We're four year out of the recession

how long do you have to wait to start pulling back deficit spending?

[Scurrilous]

4. K & R