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By Scott Tibbs, March 2, 2012
"Today I'm pledging to cut the deficit that we inherited by half by the end of my first term in office." -- President Barack Obama, February 23, 2009
Three years ago, Barack Obama promised to cut the deficit by half.
He has failed. Not only has he failed, he has made it worse.
First, let's address Obama's claim that he "inherited" the deficit. As you can see in the numbers provided by the Office of Management and Budget, the deficits under President Bush peaked in 2004, and than began to decline. The budget deficit in 2007 - the last budget approved by the Republican Congress before Nancy Pelosi became speaker - was $160 billion. When the Democrats took over, the deficit exploded. So, yes, Barack Obama inherited a huge deficit from the Democrats in Congress.
| Year | Revenue | Expenses | Surplus/Deficit
(in billions) |
| 2001 | 1,991 | 1,862 | 128 |
| 2002 | 1,853 | 2,010 | -157 |
| 2003 | 1,782 | 2,159 | -377 |
| 2004 | 1,880 | 2,292 | -412 |
| 2005 | 2,153 | 2,471 | -318 |
| 2006 | 2,406 | 2,655 | -248 |
| 2007 | 2,567 | 2,728 | -160 |
| 2008 | 2,523 | 2,982 | -458 |
| 2009 | 2,104 | 3,517 | -1,412 |
| 2010 | 2,162 | 3,456 | -1,293 |
| 2011 | 2,303 | 3,603 | -1,299 |
| 2012 | 2,468 | 3,795 | -1,326 |
You can also see above that it is irresponsible spending, not revenue, that is driving the debt.
Barack Obama, with the help of a Democratic Congress, has put us on an unsustainable path. This country cannot afford four more years of this man's destructive policies. He must be defeated.
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