Obama tripled the deficit his first year in office. The deficit has been more than a trillion dollars every year since.
The Obama deficit this year is expected to reach $1.29 trillion. (The Captain’s Comments)
So the last person on earth who should be lecturing America on “living within our means” is Barack Obama. But since when has that stopped him?
From the White House website:
The White House
Office of the Press Secretary
For Immediate Release September 19, 2011
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Fact Sheet: Living Within Our Means and Investing in the Future – The President’s Plan for Economic Growth and Deficit Reduction
The health of our economy depends on what we do right now to create the conditions where businesses can hire and middle-class families can feel a basic measure of economic security. In the long run, our prosperity also depends on our ability to pay down the massive debt the federal government has accumulated over the past decade. Today, the President sent to the Joint Committee his plan to jumpstart economic growth and job creation now – and to lay the foundation for it continue for years to come.
The President’s Plan for Economic Growth and Deficit Reduction lives up to a simple idea: as a Nation, we can live within our means while still making the investments we need to prosper – from a jobs bill that is needed right now to long-term investments in education, innovation, and infrastructure. It follows a balanced approach: asking everyone to do their part, so no one has to bear all the burden. And it says that everyone – including millionaires and billionaires – has to pay their fair share. Overall, it pays for the President’s jobs bill and produces net savings of more than $3 trillion over the next decade, on top of the roughly $1 trillion in spending cuts that the President already signed into law in the Budget Control Act – for a total savings of more than $4 trillion over the next decade. This would bring the country to a place, by 2017, where current spending is no longer adding to our debt, debt is falling as a share of the economy, and deficits are at a sustainable level.
When he gets his wife to cut a couple million dollars off of her yearly vacation tab maybe we’ll listen. But, until then, he can save the lectures.