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:
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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.