Out of Control Spending!

The federal budget deficit for fiscal 2013 was less than half of what it was before President Obama took office.

via Bloomberg

Spending exceeded receipts by $680.3 billion in the 12 months ended Sept. 30, the narrowest gap since 2008, compared with a $1.09 trillion shortfall in fiscal 2012, the Treasury Department said today in Washington. In September, the U.S. recorded a $75.1 billion surplus, little changed from the surplus in the same month a year earlier. [...]

Stronger hiring has helped reduce the country’s deficit as a share of gross domestic product by more than half in the past four years, narrowing it from a record $1.42 trillion in 2009.

As White House Budget Director Sylvia Mathews Burwell pointed out today, the budget deficit is now only 4.1 percent of GDP. It was over 8 percent when President Obama took office.

Somebody may want to inform Budget Committee Chairman Paul Ryan, who is still fishing for the implementation of his Path to Poverty. He wants to ween the country off of our spending habits. Also our empathy, compassion, and human decency. These are not desirable traits.

The deficit will almost entirely vanish by 2017 without implementing Paul Ryan’s Dickensian wish-list

This entry was posted in Economy and tagged , . Bookmark the permalink.
  • joseph2004

    Let’s hear it for the sequester! That draconian idea was Obama’s, after all. But besides that, who believes that if the Democrats held the house right now, we’d be seeing a drop in the deficit? No way, no how.
    Spin on, little Ashby! Spin on!

    • JimmyAbra

      I am not sure this was a post to say that the numbers are “good” just that out of control deficit is an off the table topic of complaining….Now the elements of the deficit..sequestration, spending cuts, in and of themselves may not be good…yes, you “save” money but there externalities. I can save a ton of money by not feeding my family and show a much more cash savings or lowing credit card debt on a monthly basis, but it hard to say that was a wise thing to not pay for.

    • i_a_c

      Yeah, get fucked. The sequester amounts to all of $80B/year.

    • trgahan

      And here is stock Talking Point #126534 spouted anytime basic math proves Democrats can be more “fiscally responsible” than any Republican. Yawn….

    • Pink No More

      You always know how just to miss the facts, boy!

    • JMAshby

      Actually, new revenue was primarily responsible for reducing the year-over-year deficit, not sequestration.

      If Democrats controlled the House, the deficit would end up being even lower because taxes would be higher. Democrats wanted to end the Bush Tax Cuts for everyone making over 250, but the best we could get while Republicans have power was 450.

      But thanks for playing. I look forward to the next time you show up to do some hand-waving.

      • Brutlyhonest

        I don’t normally support even acknowledging your troll/stalker, but well done sir.

        Also, too: I expect this to be the lead story on the corporate news broadcasts tonight – of course not really.

    • Victor_the_Crab

      who believes that if the Republicans held the House, the Senate, and the White House right now, we’d be seeing a drop in the deficit? No way, no how.

      Fixed for accuracy.

      Troll on, joey buttface! Troll on!

  • Christopher Foxx

    The deficit will almost entirely vanish by 2017…

    Not if the Republicans have anything to say about it.