Obama Sets Record By Nearly Tripling Deficit In 1st Month… Blames Bush

Obama will announce a record deficit today.
In one month Democrats have already nearly tripled the national deficit and could quadruple the deficit this year.
The deficit they have racked up represents 12.3 percent of the U.S. economy– its largest share since World War II and more than double the total from last year.

Chart via RedState
Democrats have already spent twice as much as the total cost of the War in Iraq.
They are likely to spend 6 times as much as the total cost of the Iraq War before they are through with their bailouts.

Obama will also announce tax hikes and more government programs in his talk today.
And, he will blame Bush for the deficit he’s tripled.
Reuters reported, via Free Republic:

President Barack Obama will forecast a 2009 deficit of $1.75 trillion on Thursday in a budget that covers big goals including reforming the health care system and stabilizing the U.S. economy, an administration official said.

The huge deficit figure, to be published in the president’s budget later on Thursday, would represent 12.3 percent of the U.S. economy — its largest share since World War II.

Obama, a Democrat, has pledged to halve the more-than $1 trillion deficit he inherited from former Republican President George W. Bush by early 2013, when his current term in office ends. The budget lays out a series of spending cuts in agriculture subsidies and other areas to meet that goal.

Two senior administration officials, speaking on condition of anonymity, laid out broad outlines of the budget ahead of its release and said Obama’s expensive policy goals would be offset by cuts to put the country in better fiscal shape.

So, is Obama ever going to quit blaming Bush for his irresponsible spending?
And, is the media ever going to quit covering for him?

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

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