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October 5th, 2012 2:02 pm
CBO Announces: Fourth Consecutive Trillion-Dollar Deficit Under Obama
Posted by Print

Before Barack Obama, America had never seen a trillion-dollar deficit.  Under Obama, we have now endured four in a row.

Today, the Congressional Budget Office (CBO) announced that the deficit for fiscal 2012 totaled $1.1 trillion, after trillion-plus deficits for 2009 (which Obama falsely attributes to Bush), 2010 and 2011.  Keep in mind that Obama originally promised that the deficit would be down to $557 billion this year, in addition to his infamous promise to “cut the deficit in half by the end of my first term.”   Moreover, the expiration date on his all-purpose alibi of the last recession has long since passed, since that recession ended over three years ago in June 2009.

Obama and his media apologists will naturally trumpet this morning’s lackluster jobs report, yet today’s deficit announcement by the CBO provides a broader perspective on his utter, unprecedented failure as president.

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