The President thinks the American people must be deaf dumb and blind, so he will continue making up numbers and blaming Bush for everything including his own spending. The bias news media will not make him eat his words or bash him for lying because they are in his pocket, instead all we get is one lousy article because a third party decided to look into his claim. But of course, the mainstream news media will not pick this story up. According to the President’s delusional lies, he is only responsible for $520 billion of the $5.2 trillion deficits that can be solely attributed to his administration! America, do not prove him right. Are we as deaf dumb and blind as he thinks? Now, on to the story, there’s a link to the full FactCheck.org story after the excerpt….
President Obama is falsely claiming that his administration’s policies are responsible for “about 10 percent” of the deficits “over the last four years.” The cumulative deficit during that time is nearly $5.2 trillion. Obama signed two bills — the 2009 stimulus and the 2010 tax cut — that alone cost $1.6 trillion during that time, or nearly a third of the cumulative four-year deficit.
How could he have been so wrong? Although he said “the last four years,” the administration tells us that he was referring to a Treasury analysis of a 10-year period from 2002 to 2011 — which includes all eight years of the Bush administration and excludes the 2012 fiscal year, which ends Sept. 30 with a $1.17 trillion deficit.
It’s true that Obama “inherited the biggest deficit in our history,” as he said on CBS. By the time Obama took office in January 2009, the nonpartisan Congressional Budget Office had already estimated that increased spending and decreased revenues would result in a $1.2 trillion deficit for fiscal year 2009, which began Oct. 1, 2008. In a detailed analysis of fiscal year 2009, we found that Obama was responsible for adding at most $203 billion to the deficit, which in the end topped $1.4 trillion that year.
But that was just the first of four years of trillion-plus deficits. The last three budgets fall squarely under Obama. And, during that time, the federal government ran up deficits of $1.3 trillion in 2010, $1.3 trillion in 2011, and about $1.2 trillion in the fiscal year that ends Sept. 30 — for a total of nearly $5.2 trillion in deficit spending.
Now, affixing responsibility (i.e., blame) for mega-deficits and the ballooning federal debt is filled with ideological landmines. Obama doesn’t take responsibility for war spending, for example, even though he continued the spending and, in fact, increased U.S. troop levels in Afghanistan. He also doesn’t want to take the blame for the expense of creating the Medicare prescription drug program — although his federal health care law increased funding for it. (The law will gradually close the notorious doughnut hole that caused some seniors to pay nearly $2,000 in prescription drug costs because of a gap in coverage.)
Read the Rest @ Obama’s Deficit Dodge – Yahoo! News.