As National Deficit Soars to $1.6 Trillion for the Year, Obama Lectures Congress on “Living Within Our Means”

Barack Obama tripled the national deficit in his first year in office. In his second year the deficit was again a record $1.29 Trillion. This year the deficit will be even higher.

This chart was updated to reflect the recent news that the deficit this year will reach $1.6 trillion. (The Captain’s Comments)

Today Barack Obama had the audacity to lecture Congress on “living within our means.”

From a Republican source in the US Senate:

After he signed the short-term bill yesterday, President Obama said in a statement, “I’m calling on Democratic and Republican leaders of Congress to begin meeting immediately with the Vice President, my Chief of Staff, and Budget Director so we can find common ground on a budget that makes sure we are living within our means.”

Saying that this country must live within its means is an audacious statement coming from a president who championed an $814 billion failed stimulus bill, all of which was paid for with deficit spending. It’s audacious coming from an administration that is leading the country into another consecutive year with a deficit over a trillion dollars. And it’s audacious coming from a White House that proposed a budget for the following fiscal year that grows the debt to $20 trillion in five years and never once in a decade spends less than it’s taking in.

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