Tuesday, March 13, 2012

Obama's Credibility Re: Deficits = ZERO, NIL, ZILCH, NADA

While campaigning for President in July 2008, Barack Obama said the following regarding President George W. Bush...


...calling President Bush 'unpatriotic' for adding $4 Trillion to the total national debt during his two terms as President.

Ironic given that so far, in less than 4 years in office, President Barack Obama has added $5 Trillion to the national debt, and is on pace to add over $6 Trillion in his full 4 year term...including needing another increase to the national debt ceiling around September of this year - after securing one last fall that was supposed to last through early 2013.

But here's something else that is quite interesting about Barack Obama to consider for this election campaign...

Remember back to February 2009 when President Obama said....


...he will cut the budget deficit in half in 4 years....

Flash forward to 2012 from that promise...

...March 2012 - when the US Treasury Department announced that the February 2012 budget deficit was a record setting $232 billion dollars.


Let's savor that number for few minutes...  $232 Billion dollars....

Almost one quarter of a trillion dollars in a single month - and the shortest month (29 days) of the year....

If the nearly one quarter of a trillion dollar MONTHLY deficit isn't sufficiently staggering - February's budget deficit was a little more than $70 billion HIGHER THAN THE ENTIRE FY 2007 budget deficit of $161 billion dollars!  Yes, that's right, the last entirely GOP budget (GOP Congress and GOP WH) annual deficit was more than $70 billion lower than a monthly deficit that President Barack Obama achieved in ONE MONTH!.

To recap - Bush's $4 trillion in deficits over 8 years was unpatriotic - but he's fine with nearly $6 trillion in deficits in 4 years - highlighted by a monthly deficit in February 2012 that is more than $70 billion higher than Bush's entire 2007 budget deficit.

This does wonder's for one credibility during the campaign season.


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