Another Obama Record!… Four Straight Years of Trillion Dollar Deficits
Barack Obama is the worst jobs president since the Great Depression.
Barack Obama owns the largest four deficits in history.
Barack Obama added $5 trillion to the US debt in just over three years – another record.
The GDP is sliding each quarter – this last quarter the GDP slid to 1.5%.
The federal government notched a $1.1 trillion deficit in fiscal year 2012 — the fourth straight year over $1 trillion — according to a preliminary estimate that the Congressional Budget Office released Friday.
That’s still an improvement over 2011, when the deficit reached $1.3 trillion, and it marks the lowest deficit of President Obama’s four years in office.
The CBO report said the better picture was due to higher revenue from taxes. Spending was about the same in 2012 as it was a year earlier.
The government ended the fiscal year on a very positive note, posting a $75 billion surplus for the month of September — just the second monthly surplus since the Wall Street collapse in September 2008, when President George W. Bush was still in office.