{"id":6261,"date":"2010-07-26T10:03:25","date_gmt":"2010-07-26T14:03:25","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=6261"},"modified":"2010-07-26T10:47:07","modified_gmt":"2010-07-26T14:47:07","slug":"obama-admits-this-years-deficit-will-exceed-last-years","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/6261\/obama-admits-this-years-deficit-will-exceed-last-years\/","title":{"rendered":"Obama Admits This Year’s Deficit Will Exceed Last Year’s…"},"content":{"rendered":"

The Obama Administration now acknowledges<\/a> that this year’s budget deficit will exceed last year’s.\u00a0 Their 2010 $1.5 trillion deficit constitutes 10% of gross domestic product (GDP), up from 9.9% last year<\/a>. \u00a0 The administration also raised its 2011 deficit forecast to $1.4 trillion, up from its previous $1.267 trillion projection.<\/p>\n

Barack Obama repeatedly – and falsely – seeks to escape blame by scapegoating his predecessor<\/a> for last year’s $1.4 trillion deficit.\u00a0 He promised as a candidate to address the deficit, but instead more than tripled it in his first year with such things as his failed $1 trillion “stimulus.”\u00a0 So what will be his alibi for this year’s deficit?\u00a0 And for 2011’s?<\/p>\n

Is there no expiration date on “Blame Bush?”<\/p>\n

Another falsehood that Obama advances is that he and Congressional Democrats were simply handed this deficit on January 20, 2009.\u00a0 The truth, however, is that Nancy Pelosi, Harry Reid and Democrats recaptured Congress (which controls spending under the Constitution) in November 2006, when the deficit was merely $248 billion<\/a>.\u00a0 In just four years, they’ve managed to multiply that number by six.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Obama Administration now acknowledges that this year’s budget deficit will exceed last year’s.\u00a0 Their 2010 $1.5 trillion deficit constitutes 10% of gross domestic product (GDP), up from 9.9% last year. \u00a0 The administration also raised its 2011 deficit forecast to $1.4 trillion, up from its previous $1.267 trillion projection. Barack Obama repeatedly – and […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[40,59,24,61,179,71,28],"class_list":["post-6261","post","type-post","status-publish","format-standard","hentry","category-posts","tag-congressional-budget-office","tag-deficit","tag-obama","tag-spending","tag-stimulus","tag-taxes","tag-tea-party"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/6261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=6261"}],"version-history":[{"count":3,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/6261\/revisions"}],"predecessor-version":[{"id":6275,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/6261\/revisions\/6275"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=6261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=6261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=6261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}