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A promise not kept

“Today I’m pledging to cut the deficit that we inherited by half by the end of my first term in office.” — President Barack Obama, February 23, 2009

Three years ago, Barack Obama promised to cut the deficit by half. He has failed. Not only has he failed, he has made it worse.

First, let’s address Obama’s claim that he “inherited” the deficit. As you can see in the numbers provided by the Office of Management and Budget, the deficits under President Bush peaked in 2004, and than began to decline. The budget deficit in 2007 – the last budget approved by the Republican Congress before Nancy Pelosi became speaker – was $160 billion. When the Democrats took over, the deficit exploded. So, yes, Barack Obama inherited a huge deficit from the Democrats in Congress.

Year Revenue Expenses Surplus/Deficit
(in billions)
2001 1,991 1,862 128
2002 1,853 2,010 -157
2003 1,782 2,159 -377
2004 1,880 2,292 -412
2005 2,153 2,471 -318
2006 2,406 2,655 -248
2007 2,567 2,728 -160
2008 2,523 2,982 -458
2009 2,104 3,517 -1,412
2010 2,162 3,456 -1,293
2011 2,303 3,603 -1,299
2012 2,468 3,795 -1,326
You can also see above that it is irresponsible spending, not revenue, that is driving the debt.

Barack Obama, with the help of a Democratic Congress, has put us on an unsustainable path. This country cannot afford four more years of this man’s destructive policies. He must be defeated.

Scott Tibbs blogs at Follow him on Facebook and Twitter.

This post was tagged under: 2012 Election, barack obama

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