Another year, another $1 trillion deficit

[Galluccio]

The federal budget deficit just exceeded $1 trillion for the fourth straight year under President Obama's watch.

These trillion-dollar deficits have caused our national debt to skyrocket above $16 trillion -- saddling you with a $51,000 liability. Worse, we've been borrowing about 31 cents of every dollar we spend from countries like China.

It wasn't supposed to be this way. Barack Obama repeatedly promised to control our nation's mounting debt and deficits.

In 2009, President Obama said, "Today I'm pledging to cut the deficit we inherited in half by the end of my first term in office." Instead, he doubled it.

In 2008, candidate Obama said, "We now have over $9 trillion of debt that we are going to have to pay back.... That's irresponsible. It's unpatriotic." And in 2007, he said, "[W]e are also not running up deficits and asking China to bail us out ... it's pretty hard to have a tough negotiation when the Chinese are our bankers."

He is right about one thing -- it is irresponsible. We cannot keep spending uncontrollably, borrowing from China, and expecting our children and grandchildren to foot the bill.

We need to get serious about this before it's too late. We need Mitt Romney's plan with the reduction cuts and caps federal spending, balances the budget, and reduces our nation's debt -- to put America on a path to prosperity.

[Frozenbeef]

You remind me of one of those crazy preacher people that go around with signs that say stuff like "repent now" except you have a Republican theme going on :S

[Deadvolcanoes]

What programs, specifically, has Obama enacted that have contributed to the deficit?

[MangoSpirit]

opinionated post is an opinion.

[Vladar]

You remind me of one of those crazy preacher people that go around with signs that say stuff like "repent now" except you have a Republican theme going on :S

Good to see that some Americans arent brainwashed. Republican want to cut the deficit by giving tax cuts to millionaires and billionaires which will magically solve all problems and reduce the deficit. Competition solves everything and government is the devil.

[Spectral]

What programs, specifically, has Obama enacted that have contributed to the deficit?

ARRA, extended unemployment benefits, and vastly increased war spending in Afghanistan.

[ptwonline]

Year, Deficit, President's Budget
2009, $1.4T, Bush
2010, $1.3T, Obama
2011, $1.3T, Obama
2012, $1.1T, Obama
2013, $0.9T, Obama (projected)

[Zhangfei]

Lol OP is very lol

[conscript]

Lets not forget what actually constitutes the majority of our deficit. The Bush tax cuts which Obama was forced to extend to get the Republicans to agree to anything and the wars in Iraq and Afghanistan. I might be crazy here, but I don't think Obama's name is Bush so those aren't his cuts and he wasn't President in the early 2000s when we went to those wars.

[nachoman007]

He's not going to respond to his post anymore. Logic? Facts?!?!?!?! Noooooo!

[Laize]

The federal budget deficit just exceeded $1 trillion for the fourth straight year under President Obama's watch.

These trillion-dollar deficits have caused our national debt to skyrocket above $16 trillion -- saddling you with a $51,000 liability. Worse, we've been borrowing about 31 cents of every dollar we spend from countries like China.

It wasn't supposed to be this way. Barack Obama repeatedly promised to control our nation's mounting debt and deficits.

In 2009, President Obama said, "Today I'm pledging to cut the deficit we inherited in half by the end of my first term in office." Instead, he doubled it.

In 2008, candidate Obama said, "We now have over $9 trillion of debt that we are going to have to pay back.... That's irresponsible. It's unpatriotic." And in 2007, he said, "[W]e are also not running up deficits and asking China to bail us out ... it's pretty hard to have a tough negotiation when the Chinese are our bankers."

He is right about one thing -- it is irresponsible. We cannot keep spending uncontrollably, borrowing from China, and expecting our children and grandchildren to foot the bill.

We need to get serious about this before it's too late. We need Mitt Romney's plan with the reduction cuts and caps federal spending, balances the budget, and reduces our nation's debt -- to put America on a path to prosperity.

When Mitt Romney produces actual numbers and publishes a plan, I'll consider him.

[Spectral]

Year, Deficit, President's Budget
2009, $1.4T, Bush
2010, $1.3T, Obama
2011, $1.3T, Obama
2012, $1.1T, Obama
2013, $0.9T, Obama (projected)

I wish liberals would quit using this particular claim, it makes us look bad. A significant chunk of that 2009 spending was actually added after Bush was out of office, and was signed in by Obama. The Bush spending request was about $400 billion lower, and had higher requested revenues, but the omnibus wasn't signed into law until March '09, by Obama.

[cudomix]

Debt doesn't matter, as long as dollar is world's main reserve currency. Ryan's plan is similar to South Park underpants gnomes, it doesn't make sense.

[Mnevis]

"I'll pick a number, say, $25,000 max deductions"
"If the math doesn't work, are you flexible on the 20% cut?"
"Of course the math works!"

Forbes says that pays for not quite a third of the marginal cut. Assume that the cuts grow the GDP by 2.3%, and you're still only about halfway out of the hole.

Still a little light on 'plan' there.

[Bloogs]

Year, Deficit, President's Budget
2009, $1.4T, Bush
2010, $1.3T, Obama
2011, $1.3T, Obama
2012, $1.1T, Obama
2013, $0.9T, Obama (projected)

Yes! Thank you! Someone that actually pays attention to facts!

In case anyone has trouble interpreting facts: Obama has decreased the budget deficit while he has been in office. He has not increased it.

By contrast, G W Bush increased our deficit, just like his father, and just like Reagan.

Make sure you understand the difference between the yearly budget deficit and the total public debt. Total public debt goes up any year there is a budget deficit. Bill Clinton is the only recent president that actually had a budget surplus, that means no deficit, and actually decreased the total public debt.

Recent Republican presidents in office are terrible with money, spending more and borrowing more and leave us more in debt than Democrats!

Yay for facts!

[Deadvolcanoes]

ARRA, extended unemployment benefits, and vastly increased war spending in Afghanistan.

I was hoping to hear from the OP. Not someone who actually knows what their talking about

I was waiting for food stamps, social security, medicare, obamacarez, obamaphones etc...

[nachoo]

I will still be voting for obama, sorry bub.

[Spectral]

Lets not forget what actually constitutes the majority of our deficit. The Bush tax cuts which Obama was forced to extend to get the Republicans to agree to anything and the wars in Iraq and Afghanistan. I might be crazy here, but I don't think Obama's name is Bush so those aren't his cuts and he wasn't President in the early 2000s when we went to those wars.

While Obama should be praised for bringing Iraq to a close, he's ratcheted up spending in Afganistan by very large sums: http://costofwar.com/publications/20...r-afghanistan/

[Laize]

Oh then there was this little Romney gem.

"I'm going to make sure you get a job. Thanks Jeremy. Yeah, you bet," - Mitt Romney, October 16.

"As president, I will create 12 million new jobs," - Mitt Romney, October 16.

"The government doesn't create jobs," - Mitt Romney, October 16.

[Spectral]

I was hoping to hear from the OP. Not someone who actually knows what their talking about

I was waiting for food stamps, social security, medicare, obamacarez, obamaphones etc...

Sorry to interrupt the mockery

I'm about a half an Obama supporter (and I really, really dislike Romney), but I think we should be clear about his policies. I think ARRA and extended unemployment were both good policies, and their deficit effects are overstated if we don't look at the offsets from it, but they did cost money.

He should be torn a new ass for throwing our money down the shitter that is Afghanistan.