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