- New House Majority PAC ad blasts Steve Southerland for forgetting the folks back home
- Court: US can withhold Guantanamo detainee images
- Scott calls militants ‘evil’ in journalist killing
- Mourners gather at Miami home of slain journalist
- U.S. Rep. David Jolly calls on NOAA to take action on red tide near Pinellas
- Steve Southerland finds himself on most endangered incumbents list
What Obama should say to his critics about the deficit
Steve Benen summarizes:
[This chart] starts with the figures released in 2009, when the deficit reached a record high of $1.4 trillion. Why is the column in red? Because, thanks to fiscal years, Obama inherited a deficit of nearly $1.3 trillion from Bush/Cheney the moment he took the oath of office. This year, however, according to the official data published by the Treasury Department, the deficit was $1.089 trillion.
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.