What Obama should say to his critics about the deficit

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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.

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Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.