Federal spending, taxes, and annual budget deficit all lower now than when Pres. Obama took office

[bigtree]

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



Federal spending, taxes, and the annual budget deficit are all lower now than when President Obama first took office. Facts!

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

[MADem]

1. Well of course--The GOP are the children who swipe the credit card and max it out, the Dems are the

adults who pay down the debt and put the fiscal house in order.

Look at the surplus Clinton left behind, and look how fast Porgie burned through it....

[Scurrilous]

2. K & R

[BarbaRosa]

3. I can't recall when I first heard this

but we are like the 'Hazel' party. . .We're always cleaning up after the Grand Old Party

[jackie7]

4. things will get better soon

bigtree, I agree with you... I also disagree with every person claiming Obama isn't handling the economy well, I believe economy was going in the wrong direction for 8 years during the term of George W. Bush, and 8 years of sinking down can't be undone in 4 years...

Well here are some numbers, keeping in mind, the terms of presidency are as follows:

Barack Obama: 2009 - ongoing
George W. Bush: 2001 - 2009

here are the Debt, Budget Deficit and Current account balance of United States numbers:

2001
Current account balance:  -$396.5 billion
Budget surplus (+) or deficit (-):  +0.5% of GDP

2008
Current account balance:  -$376.5 billion
Budget surplus (+) or deficit (-):  -5.2% of GDP

2011
Current account balance: -$599.9 billion
Budget surplus (+) or deficit (-): -8.6% of GDP

US economy was clearly spiralling down while Bush was in term, from (0.5% of GDP) budget surplus in 2001 to a negative deficit (-5.2% of GDP) in 2008, well, someone might argue that the current budget deficit is -8.6%... well, it takes time to create new jobs, and boost businesses and increase the income from exports... I bet if Obama gets re-elected, the numbers will be turn around and we will have a positive current account balance and budget surplus rather than the current huge budget deficit

[annabanana]

5. It's a shame that the other side isn't more impressed by FACTS!

And Welcome to DU