Budget Deficit Falling To $514 Billion: CBO

Now see if you can name the last Republican president that shrank the budget deficit. Good luck!

~The Right-wing meme killer.

Budget Deficit Falling To $514 Billion: CBO

| by ANDREW TAYLOR
Posted: 02/04/2014 10:20 am EST Updated: 02/04/2014 10:59 am EST


WASHINGTON (AP) — A new report says the government's budget deficit is set to fall to $514 billion for the current year, down substantially from last year and the lowest by far since President Barack Obama took office five years ago.
The Congressional Budget Office report credits higher tax revenues from the rebounding economy and sharp curbs on agency spending as the chief reason for the deficit's short-term decline.
But CBO sees the long-term deficit picture worsening by about $100 billion a year through the end of the decade because of slower growth in the economy over the coming decade than it had previously predicted.
Last year's deficit registered $680 billion. Obama inherited an economy in crisis and first-ever deficits exceeding $1 trillion.

 

Doesn't anyone want to call Obama a tax and spend Liberal? Doesn't anyone want to say Obama is spending more than any president ever? Come on, lets hear those hilarious criticisms.

 

Nah, he doesn't do either enough, but that's not exactly his fault, he underestimated the general public's attention span. And then he....Hey look! A squirrel! Run squirrel, run! Radical right-wing republicans want your nuts!

...Where was I? ...Something about a beaver, or barber, or whatever... Screw it, Matlock is on in five minutes!

 

Why wasn't congress able to derail this?

They out of tea?