Obama Deficit Grows Again

Three Years After Promising To Cut It In Half, President Obama’s 2012 Deficit Estimate Has More Than Doubled
Obama Budget Sets $1.33 Trillion Deficit In 2012

“President Barack Obama's budget request to Congress on Monday will forecast a deficit of $1.33 trillion in fiscal year 2012…” (“Budget Request Will Emphasize Infrastructure,” The Wall Street Journal, 2/10/12)

·    “The projected deficit is higher than the $1.296 trillion deficit in 2011 and also slightly higher than a roughly $1.15 trillion projection released by the Congressional Budget Office last week.” Ibid

“…would mean that the United States recorded a deficit of more than $1 trillion for every year of Obama’s first term… The deficit was $1.4 trillion in 2009, $1.3 trillion in 2010 and $1.3 trillion in 2011. The largest deficit recorded before that was $458 billion in 2008.” (“CBO Projects $1.08 Trillion Deficit, 8.9 Percent Jobless Rate In 2012” The Hill, 1/31/12)

Estimated Size Of 2012 Deficit Has Grown Every YearFY’2012 Budget:           FY’2012 Budget Deficit Estimate:           $1.101 Trillion
(“The President’s Budget For Fiscal Year 2012: Historical Tables, Table 1.1” White House Office Of Management And Budget, 2/14/11)

FY’2011 Budget:           FY’2012 Budget Deficit Estimate:           $.828 Trillion
(“2011 Budget Of The U.S. Government: Historical Tables, Table 1.1,” White House Office Of Management And Budget, P.27, 2/1/10)

FY’2010 Budget:           FY’2012 Budget Deficit Estimate:           $.557 Trillion
(“A New Era Of Responsibility Renewing America’s Promise: Historical Tables, Table 1.1,” White House Office Of Management And Budget, P.23, 2/26/09)

President Obama: Pledged To Cut The Deficit In HalfPRESIDENT OBAMA: “And that's why today I'm pledging to cut the deficit we inherited in half by the end of my first term in office.” (President Barack Obama, Remarks At The Fiscal Responsibility Summit, Washington, D.C., 2/23/09)

---

Tags: Barrack Obama, Obama Administration, Deficit Grows To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!