Friday, March 2, 2012

I will cut the deficit in half at the end of my first four years.


Still, Obama promised, some of us recall (even if he doesn’t seem to remember), that he would cut the deficit in half at the end of his four years. And guess what? He has only missed that target by $620 billion or so as we write.

When he released his initial budget, the federal debt was $10.88 trillion; when Obama put forth the most recent version, that debt had already jumped to a staggering $15.36 trillion. The increase of the national debt under President Obama, to date, is more than during all the presidencies from George Washington through George H.W. Bush.

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