Another look at the numbers
Tuesday, July 29th, 2014When you point out that the current federal debt is $17.6 Trillion and climbing, far left democrat extremists are quick to point out that the deficit is down.
Which is true, but note that they don’t point out the deficit reduction is from a peak during Obama’s reign, but up from the time he took office.
Let’s look at the actual numbers.
The current federal deficit is $572.1 billion, with a federal tax revenue of $2.9 trillion. So Barry’s handling of the federal government is to spend over a half trillion dollars than he is taking in, even with the federal tax revenue at record high levels.
So what is that $572.1 trillion dollar deficit down from?
Let’s look at the federal deficit in 2012, after several years of Barry’s firm fiscal hand. it was at $1.1 Trillion. The federal tax income was $2.4 trillion. Do the math here kids. Our Dear Leader hasn’t reduced spending, he has jacked taxes through the roof. The deficit is down about $400 billion, and increase in federal tax income is up $500 million. So he has also increased federal spending instead of paying down the $17.6 trillion federal debt.
Let’s go back to 2008, near the end of two terms of President George W. Bush. The federal deficit was $408.1 Billion with a federal tax income of $2.5 trillion. Note that the deficit was in fact lower than it is currently, and that is with $400 billion less in federal tax revenue.
So when a democrat claims that the deficit is down, that person is is in fact, deliberately lying by omission. The federal deficit under Obama has gone up, despite squeezing nearly a additional half a trillion dollars out of the pockets of tax paying US citizens in an economy that can be politely described as “stagnant” at best.