Monday, October 19, 2015

The US Budget Deficit Falls To An 8-year Low Under President Obama

The President saying "Hey! Look at that teeny tiny US budget deficit guys!"
Yes, it's true. 

The socialist, communist and bestest redistributor of wealth, President Obama, has shrunk the US budget deficit by $1 trillion dollars.

The Treasury Department has confirmed that the deficit has narrowed to $439 billion in fiscal 2015. 

This means that the deficit is now the smallest it has been in Barack Obama's presidency and the lowest it has been since 2007 in both dollar terms and as a percentage of gross domestic product. 

In short this means that the cut in the finance gap -- which was $1.4 trillion in 2009 -- brought the deficit down to 2.5 percent of gross domestic product.

Here is a chart explaining just how President Obama is destroying our economy if by destroying it I mean saving it...

This achievement marks a long effort by the administration of President Barack Obama to pare back the budget shortfall after it soared when the economy plunged into crisis in 2008 under George W. Bush.

Treasury Secretary Jacob Lew said in a statement...

"President Obama's agenda continues to put Federal finances on a sustainable footing while laying the foundation for durable economic growth and broadly shared prosperity. 
Under the president's leadership, the deficit has been cut by roughly three-quarters as a share of the economy since 2009 –- the fastest sustained deficit reduction since just after World War II.

In additional good news revenues for the year were $3.2 trillion, an increase of 8% over the prior year and in addition the government spent $3.7 trillion in fiscal 2015, up 5%.


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