The Chart below lets me draw the conclusion that since Obama took the presidency, he has cut our national deficit in half– and it is possible that within the next two years, he could get rid of it entirely. 

 

Deficit-by-Year

Source: http://www.usgovernmentspending.com/

The Congressional Budget Office reported that “this year’s deficit will be noticeably smaller than what the agency projected in March, and fiscal year 2015 will mark the sixth consecutive year in which the deficit has declined as a percentage of gross domestic product (GDP) since it peaked in 2009.”

Here are the Conclusions I can draw from these Facts:

  • At this rate, President Obama is in a strong position to follow in the footsteps of the last Democratic president, Bill Clinton, and completely eliminate the federal deficit, cementing a new tradition of Democrats upholding the values of fiscal responsibility that the Republicans now pretend to uphold.
  • Conservative myths about Liberals not be interested in reducing the deficit are simply that “MYTHS.”
  • That Government Spending to get us out of the recession worked.