decreasing deficit

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Steve Benen points out that the US budget deficit has reached a 4-year low, and reminds us:

The [Romney/Ryan] attack overlooks Paul Ryan's role in creating the massive deficit, the inconvenient fact that Romney hasn't presented a deficit-reduction plan, and the problem that the Romney/Ryan agenda would appear to make the deficit significantly worse...

Also, "thanks to fiscal years, Obama inherited a deficit of nearly $1.3 trillion from Bush/Cheney the moment he took the oath of office:"

When the president's critics spin this, they'll say, "The deficit was over $1 trillion again," and that will be accurate. What the criticism fails to note, however, is that (a) the deficit is now much smaller than it was when Obama took office; (b) this is the smallest deficit we've seen in four years; (c) this new figure represents an improvement of over $200 billion since last year; and (d) the main drivers of the remaining deficit are Republican policies.

"Obama has something to brag about," he notes, that "very few presidents of the last generation can say they managed to shrink the deficit by over $200 billion, even during difficult economic times."

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This page contains a single entry by cognitivedissident published on October 16, 2012 9:37 AM.

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