For an optimal experience visit our site on another browser.

Feb 23, By the president's account, the administration inherited atrillion deficit for the current fiscal year from the Bush administration - that's the figure Obama says he'll cut in half Author: NBC Universal.

The National Debt increased from

Sep 01, InPolitiFact twice rated True claims that President Barack Obama failed to keep a promise to cut federal deficits in half by the end of his first term. At that point, the budget gap topped. Dec 03, For yearthe CBO puts the deficit atbillion, which is stillbillion more of a deficit than the worst year under Bush. So what Obama means when he says, “since I took office, we have now cut our deficits by more than half” is that his administration tripled the deficit and spent well over a trillion dollars more than it had in revenues for four straight years, and then reduced it back Estimated Reading Time: 9 mins.

Feb 22, videos of removing stumps He doubled the already high Bush deficits before he cut them in half.

Tweets by Liberty Unyielding.

Finally, there’s this: Most of the spending cuts the White House now takes credit for were initiated by Republicans and grudgingly agreed to by Obama. Maybe that initial calculation needs to be adjusted to 75% from the liar column and 25% from the bad math column. Even excluding the deficit, which Obama’s dwindling number of shock troops falsely attribute entirely to George W. Bush, that leaves Obama with a four-year average deficit oftrillion.

Include the deficit, two-thirds of which occurred after he was inaugurated, and his average rises totrillion. Aug 22, It reported that the deficit will toptrillion this year, and assuming Congress keeps most of the Bush tax cuts in place (which Obama wants), the deficit will be close to, if not more than Estimated Reading Time: 3 mins.