The Deficit Shrinks Again Under President Obama

According to the Congressional Budget Office (CBO), the supposed out of control spending of the Obama Administration is actually in control and will shrink another $200 billion in 2012.

The Congressional Budget Office said yesterday it expects this year’s gap between spending and revenue to total $1.1 trillion, down from last year’s $1.3 trillion. It attributed the decline to stronger tax revenue and the smallest increase in spending in years.

Read that again. The deficit has decreased by another $200 billion under the uber-socialist President Obama.

The CBO report isn’t all roses, and it concedes that the automatic spending cuts that will take effect next year unless congress acts may increase unemployment, however it also indicates that allowing the Bush Tax Cuts to expire may be the best thing since sliced bread.

It seems likely to me the automatic triggers will end up being postponed by the current congress and then immediately swept under the rug by the next congress.

Why? Because the Republicans love making the economy look worse before an election, but after the election is over their primary concern will be stopping the automatic cuts coming to the Pentagon. Some Republicans, including John McCain, have already expressed their wish to see the automatic triggers go away if it means the Pentagon will be spared.

As far as the president is concerned, I doubt he would try to get in the way of ending the automatic triggers. They’ve already served their purpose, politically speaking.

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  • GrafZeppelin127

    [T]he supposed out of control spending of the Obama Administration is actually in control[.]

    This is what I’ve been saying for more than two years. To the GOP and its enablers, the fact that there’s any spending occurring at all is proof in and of itself that it’s “out of control.” It’s not. It was out of control from 2001-2008. It has since been brought under control by the Obama administration. But tell them that, and they won’t believe you; because it hasn’t stopped, hasn’t been completely eliminated, because we’re still “spending” [X] trillion dollars on … I don’t know, death panels and ACORN? … it’s can’t possibly be “under control” and you’re lying.

    It’s like Dana Rohrabacher’s logic on the Bill Maher show the other night; the fact that there are still illegal immigrants present in the United States means that either nothing’s being done about illegal immigraion or it’s deliberately being made worse by Democrats; the actual facts that we’ve actually increased border patrols, increased deportations, and had zero net immigration last year, can’t possibly be true. The problem still exists, therefore no one is trying to solve it or make it better.

    Rrrrrgh.