I know it’s a risk to bring up the deficit when it’s still above one trillion, but considering how Romney has been repeatedly accusing the president of “doubling the deficit,” when in fact the CBO report from Friday proves that Obama cut the deficit by hundreds of billions of dollars, this is something that’s worthy of bragging. And next year’s projections indicate a $900 billion deficit, giving the president a four year total of $500 billion in deficit reduction.
This is with zero help from the Republicans whose nominee intends to add $5 trillion to the deficit with another massively irresponsible tax cut. It’s also worth noting that President Bush, in his first term, added $400 billion to the deficit while also eliminating a $200 billion surplus leaving a grand total of $600 billion in fiscal irresponsibility.
In modern history, I can name two Democratic presidents who have cut the deficit. Clinton and Obama. Can anyone name just one Republican president who did the same? Not Bush 43, not Bush 41, not Reagan, not Ford, not Nixon.