Fox used the headline “Obama Triples Budget Deficit to $1.4 Trillion” to push their usual anti-america agenda.
Here is more from Media Matters:
On my favorite politics board, the anti-Obama propagandists have been repeating the same nonsense for months.
That Obama has tripled the deficit.
But that grahpic has its own issues.
It accepts Bush’s deficit figures prior to FY2009, which do not include the cost of the wars, and do include several budget tricks that president Obama has banned. You can effectively add a couple hundred billion to each of the bush years.
The other problem is that conservatives never notice that the chart refers to deficit under Obama, deficit under Bush.
It does not represent deficit due to Obama’s “massive spending” (another talking point).
The CBO had projected the deficit (before Obama was in office) to reach 1.2 billion in 2009.
Obama gets credit for the stimulus ($150 billion this year) and $50 billion for other priorities.
Which brings us to the current 1.4 billion deficit.
New York Times put together some nice explanations regarding the creation of our current deficit.
Please take a look.
If you are a conservative its likely you don’t believe or understand any of what I wrote.
Please read this – from a conservative economist.
Second paragraph concludes: “Thus the vast bulk of this yearâ€™s currently estimated $1.8 trillion deficit was determined by Bushâ€™s policies, not Obamaâ€™s.”