HEHEHEHEH!!
Now, Obama is the one decreasing the deficit? He IS THE REASON. So in other words, the messiah created some kind of systematic change to the economy to produce such decrease and everything IS BETTER.
Is anyone really this stupid? To give credit to a man who added $7 trillion to the deficit, MORE THAN ANY OTHER PRESIDENT, and now because of factors that he neither implemented or in some cases didn't want which have caused deficit to decrease this year, somehow Obama should be applauded.
So after he increased the deficit by $7 trillion, we are to be thankful and rejoice that it is finally decreasing THROUGH NO ACTION by the president.
What decreased was THIS YEAR'S DEFICIT, NOT THE NATION'S ACCUMULATED DEBT OF PREVIOUS YEARS.
This article states it best:
But as Mr. Elmendorf and other experts point out,
one of the reasons it is falling is because it shot up so high in the first place. As the financial crisis devastated the economy, tax revenues fell. Spending on unemployment insurance and other government recovery programs rose.
In 2008, the deficit was about $458 billion. In 2009, it rocketed up to $1.4 trillion. It stayed above the trillion-dollar mark for 2010 through 2012.Tax revenues have risen modestly along with the slowly rising gross domestic product. The FY 2013 shortfall should end up at around $642 billion, according to the CBO.
The sequestration automatic budget cuts have also cut spending. However, the January "fiscal cliff" deal, which locked in the Bush-era tax cuts largely offset these savings, according to the Concord Coalition, a budget watchdog group.
“This year’s lower deficit can be largely attributed to short-term economic factors rather than systemic reforms in the federal budget,” writes the Concord Coalition’s Steve Winn.
Looking ahead, CBO now projects that the deficit will continue to narrow until
fiscal 2016, when it will again begin widening, as more and more baby boomers retire and become eligible for Medicare and Social Security.That means the nation’s fiscal problems are far from solved. The core challenge involves trimming federal health-care costs enough to bend the curve of ever-rising Medicare and Medicaid expense.
“The fundamental federal budgetary challenge has hardly been addressed,” writes CBO chief Elmendorf.
Nor does it do anything about the
debt piled up during the recession’s worst years. The debt is the nation’s accumulated red ink; the deficit is the amount of red ink Uncle Sam runs up each year.When the president proclaims that the deficit is shrinking at the fastest rate in decades, that’s the same as saying that the speed at which the nation is rolling backward has decreased dramatically, wrote Keith Hennessey, director of the National Economic Council under President Bush, in May.
“That is not something you should boast about. You’re supposed to boast when things are getting better, not when
they’re getting worse more slowly,” wrote Mr. Hennessey.
http://www.csmonitor.com/USA/DC-Decoder/2013/0916/Obama-Deficits-falling-at-fastest-rate-since-WWII.-Is-that-true
